Firm Growth, Institutions and Structural Transformation

Firm Growth, Institutions and Structural Transformation Magnus Henrekson and Dan Johansson Firm Growth, Institutions and Structural Transformation

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Moving Off the Farm: Land Institutions to Facilitate Structural Transformation and Agricultural Productivity Growth in China

— Agriculture made major contributions to China’s growth and poverty reduction, but the literature has rarely focused on the institutional factors that might underpin such structural transformation and productivity. Drawing on an 8-year panel of 1,200 households in six provinces, we find that land tenure insecurity, measured by past land reallocations, discourages households from quitting agric...

Growth and Structural Transformation in China

Entrepreneurs, Legal Institutions and Firm Dynamics

This paper assesses quantitatively the impact of legal institutions on entrepreneurial firm dynamics. Owners choose firm size, financial structure and default to manage risk. We find: (i) Less risk averse entrepreneurs run bigger firms and it is optimal for them to incorporate, while more risk averse entrepreneurs run smaller firms and generally are better off remaining unincorporated. (ii) Mor...

On Institutions and Growth∗

A main development in growth economics in the recent years, has been to point at the fundamental role of institutions in the growth process, although few studies have led so far to precise policy recommendations beyond the general claims about the importance of property right enforcement. This is largely due to the difficulty in de&ning the term institutions. North and Thomas (1973) developed t...