世界経済・社会統計 = World development indicators

We investigate empirically the determinants of the quality of governments in a large cross-section of countries. We assess government performance using measures of government intervention, public sector efficiency, public good provision, size of government, and political freedom. We find that countries that are poor, close to the equator, ethnolinguistically heterogeneous, use French or socialist laws, or have high proportions of Catholics or Muslims exhibit inferior government performance. We also find that the larger governments tend to be the better performing ones. The importance of (reasonably) exogenous historical factors in explaining the variation in government performance across countries sheds light on the economic, political, and cultural theories of institutions.

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The quality of government

Trust: The Social Virtues and the Creation of Prosperity

This handbook looks to provide academics and students with a comprehensive and holistic understanding of the phenomenon of innovation. Innovation spans a number of fields within the social sciences and humanities: Management, Economics, Geography, Sociology, Politics, Psychology, and History. Consequently, the rapidly increasing body of literature on innovation is characterized by a multitude of perspectives based on, or cutting across, existing disciplines and specializations. Scholars of innovation can come from such diverse starting points that much of this literature can be missed, and so constructive dialogues missed. The editors of The Oxford Handbook of Innovation have carefully selected and designed twenty-one contributions from leading academic experts within their particular field, each focusing on a specific aspect of innovation. These have been organized into four main sections, the first of which looks at the creation of innovations, with particular focus on firms and networks. Section Two provides an account of the wider systematic setting influencing innovation and the role of institutions and organizations in this context. Section Three explores some of the diversity in the working of innovation over time and across different sectors of the economy, and Section Four focuses on the consequences of innovation with respect to economic growth, international competitiveness, and employment. An introductory overview, concluding remarks, and guide to further reading for each chapter, make this handbook a key introduction and vital reference work for researchers, academics, and advanced students of innovation. Contributors to this volume - Jan Fagerberg, University of Oslo William Lazonick, INSEAD Walter W. Powell, Stanford University Keith Pavitt, SPRU Alice Lam, Brunel University Keith Smith, INTECH Charles Edquist, Linkoping David Mowery, University of California, Berkeley Mary O'Sullivan, INSEAD Ove Granstrand, Chalmers Bjorn Asheim, University of Lund Rajneesh Narula, Copenhagen Business School Antonello Zanfei, Urbino Kristine Bruland, University of Oslo Franco Malerba, University of Bocconi Nick Von Tunzelmann, SPRU Ian Miles, University of Manchester Bronwyn Hall, University of California, Berkeley Bart Verspagen , ECIS Francisco Louca, ISEG Manuel M. Godinho, ISEG Richard R. Nelson, Mario Pianta, Urbino Bengt-Ake Lundvall, Aalborg

The Oxford Handbook of Innovation

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The Theory of Industrial Organization

The purpose of this research endeavor — in the form of eight articles — to be published in 2013 in a Special Section of Industrial and Corporate Change is to further our understanding of the extent, character and orientation of entrepreneurial activity in today’s wealthy countries. This is done by means of detailed studies of particular aspects of the rules of the game deemed to be of particular importance for entrepreneurship, innovation-based firm growth and its ensuing impact on the economy. Particular aspects of entrepreneurship and economic dynamism are covered by pairs (or in one case three) coauthors, who are renowned specialists in the area and with deep knowledge of the pertinent institutions in Sweden and the US. These two countries have been argued to be located at either end of the spectrum of the types of capitalism with respect to the degree coordination and government intervention. This introductory essay sets off by giving a short overview of the institutional differences that distinguish these economies, but also stresses that convergence has occurred in the last decades in several respects. Still, as is obvious from the summary of the eight comparative analyses included in the Special Section, considerable differences remain. These constitute the basis for the concluding policy discussion.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2179947_code48420.pdf?abstractid=2179947&mirid=1

Entrepreneurship, Institutions and Economic Dynamism: Lessons from a Comparison of the United States and Sweden

Manuscript Type: Perspective



Research Question/Issue: In the finance literature theoretical arguments have largely predicted a world-wide convergence towards the Anglo-American model of corporate control. Still, there are few signs that this convergence is underway. This paper explores the reasons for the persistence of the blockholder model by an in-depth examination of a single country – Sweden – where blockholding always has been strong and where it still predominates among public firms. In spite of the fact that we explore the effects of deregulation, globalization and regulatory reform on corporate governance in a single country, a further aim is to shed some light on the wider issue of the world-wide persistence of the blockholder model.



Research Findings/Insights: We find that globalization has undermined the traditional model of corporate control in Sweden. However, there is no sign of expansion of the Anglo-American model of corporate control. A prerequisite for a well-functioning model of dispersed ownership and management control is a certain degree of autonomy/entrenchment for management relative to owners. In Sweden this option is precluded by the corporate law and prevailing social norms. As a result, the Anglo-American model is not viable and blockholder control still predominates among public firms. However, the importance of the stock exchange is declining and there is strong growth of control models outside the stock exchange, notably private equity and foreign ownership.



Theoretical/Academic Implications: In the theoretical argumentation for the inevitability of the Anglo-American model in a mature economy too little attention has been given to the necessary conditions for the viability of management control in the case of dispersed ownership. A rigorous treatment of this question is needed if we want to formulate a relevant theory for the nature of endogenous adjustment of control models in response to globalization.



Practitioner/Policy Implications: Reforms in corporate finance implemented in the European Union are greatly inspired by the UK system. In traditional blockholder governance systems such reforms undermine the basis for blockholder control. If there are strong cultural and/or legal impediments to the emergence of firms with dispersed ownership and management control, institutional convergence could result in an erosion of national stock markets in Europe. The study also provides support for the argument that the efficiency of a particular corporate governance model hinges on the complementarity of several constitutive elements, and therefore an isolated change in a certain element leads to inconsistencies, making the model less efficient.

/pdf/the-swedish-corporate-control-model-convergence-persistence-2xc9kzaq5l.pdf

The Swedish Corporate Control Model: Convergence, Persistence or Decline?

Public policy affects the prevalence and performance of both productive and high-impact entrepreneurship. High-impact entrepreneurship prospers when knowledge is successfully generated and exploited in the economy. This process depends on complementary key actors who use their competencies in what we denote a competence bloc. Although variations in economic contexts make prescribing a general panacea impossible, a number of relevant policy areas that affect key actors can be identified. In this paper this is done in the areas of tax policy and labor market policy. It is shown that high and/or distortive taxes and heavy labor market regulations impinge on the creation and functioning of competence blocs, thereby reducing high-impact entrepreneurship.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1578219_code48420.pdf?abstractid=1578219&mirid=2

Taxation, Labor Market Policy and High-Impact Entrepreneurship

https://www.nber.org/system/files/working_papers/w7502/w7502.pdf

Wage-Setting Institutions as Industrial Policy *

In this paper it is shown that relative to other rich countries, the rate of growth has been slow in Sweden for at least a quarter of a century. Perhaps the most striking result of this slow growth is that relative income in Sweden fell from 3rd or 4th to 17th place among the OECD countries from 1970 to 1993. This finding goes against the claim by Walter Korpi that those who claim that Sweden has been lagging behind have based their conclusions on careless analyses.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID998273_code48420.pdf?abstractid=998273&mirid=1

Magnus Henrekson

Papers

Entrepreneurship, Institutions and Economic Dynamism: Lessons from a Comparison of the United States and Sweden

The Swedish Corporate Control Model: Convergence, Persistence or Decline?

Taxation, Labor Market Policy and High-Impact Entrepreneurship

Wage-Setting Institutions as Industrial Policy *

Sweden's Relative Economic Performance: Lagging Behind or Staying on Top?