G2TT
来源类型Discussion paper
规范类型论文
来源IDDP13216
DP13216 Connecting to Power: Political Connections, Innovation, and Firm Dynamics
Ufuk Akcigit; Salome Baslandze; Francesca Lotti
发表日期2018-10-03
出版年2018
语种英语
摘要Do political connections affect firm dynamics, innovation, and creative destruction? We study Italian firms and their workers to answer this question. Our analysis uses a brand-new dataset, spanning the period from 1993 to 2014, where we merge: (i) firm-level balance sheet data; (ii) social security data on the universe of workers; (iii) patent data from the European Patent Office; (iv) the national registry of local politicians; and (v) detailed data on local elections in Italy. We find that firm-level political connections are widespread, especially among large firms, and that industries with a larger share of politically connected firms feature worse firm dynamics. We identify a leadership paradox: When compared to their competitors, market leaders are much more likely to be politically connected, but much less likely to innovate. In addition, political connections relate to a higher rate of survival, as well as growth in employment and revenue, but not in productivity – a result that we also confirm using a regression discontinuity design. We build a firm dynamics model, where we allow firms to invest in innovation and/or political connection to advance their productivity and to overcome certain market frictions. Our model highlights a new interaction between static gains and dynamic losses from rent-seeking in aggregate productivity.
主题Macroeconomics and Growth
关键词Political connections Creative destruction Firm dynamics Innovation Productivity
URLhttps://cepr.org/publications/dp13216
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/542023
推荐引用方式
GB/T 7714
Ufuk Akcigit,Salome Baslandze,Francesca Lotti. DP13216 Connecting to Power: Political Connections, Innovation, and Firm Dynamics. 2018.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Ufuk Akcigit]的文章
[Salome Baslandze]的文章
[Francesca Lotti]的文章
百度学术
百度学术中相似的文章
[Ufuk Akcigit]的文章
[Salome Baslandze]的文章
[Francesca Lotti]的文章
必应学术
必应学术中相似的文章
[Ufuk Akcigit]的文章
[Salome Baslandze]的文章
[Francesca Lotti]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。