entry propensity the supply of entrants and the spatial distribution of business units beesley m e and hamilton r t 1994 entry propensity the supply of entrants and the spatial distribution of business units reg studies 28 233 239 an extensive new database is used in the estimation of models explaining entry propensities across the cross section of british manufacturing industries few previous studies of industrial entry have adequately incorporated the supply of prospective entrants this is redressed here by allowing for the possibility that prospective business founders are industry specific with their numbers varying among industries the spatial distribution of business units within an industry is also shown to have an important bearing on entry an effect which also appears to have been overlooked in previous studies beesley m e et hamilton r t 1994 la propension a se faire immatriculer le nombre d immatriculations et la distribution spatiale des unites industrielles reg studies 28 233 239 on se sert d une nouvelle base de donnees plus etendue pour estimer des

entry in greek manufacturing industry athens vs the rest of greece the paper reports an attempt to estimate the determinants of entry in greek manufacturing industry in the 1984 87 period and to identify the differences between locatio nal entry preferences entry in athens is found to be hesitant with respect to factors such as profitability and increased competition conversely entry in the rest of the country is strongly related to expected profits and safe markets negatively affected by relative labour costs and indifferent to international competition threats the healthier approach of regional entry is enhancing regional development prospects and partly justifies the strict regional policies of the 1980s

new firm startups technology and macroeconomic fluctuations new firm startup activity is examined within a framework pooling a cross section of 117 industries over six time periods between 1976 and 1986 a model is introduced relating startup activity both to elements of the business cycle in particular the macroeconomic growth rate the cost of capital and the unemployment rate and to industry specific characteristics especially the technological conditions underlying the industry the pooled cross section regression results suggest that macroeconomic fluctuations as well as industry specific elements contribute to startup activity while new firm startups respond positively to macroeconomic growth they are promoted by a low cost of capital and high unemployment rate a somewhat surprising result is that new firm startups are not apparently deterred in capital intensive industries and where r d expenditures play an important role the empirical results suggest that new firms may be able to overcome their inherent size and experience disadvantages in such markets through exploiting university research and pursuing innovative activity

is the corn futures market noisier the impact of high frequency quoting the paper pioneers research on high frequency hf quoting noise in electronically traded agricultural futures markets hf quoting quickly cancelling posted limit orders and replacing them with n

limit order book as a market for liquidity we develop a dynamic model of an order driven market populated by discretionary liquidity traders these traders must trade yet can choose the type of order and are fully strategic in their decision traders differ by their impatience less patient traders demand liquidity more patient traders provide it three equilibrium patterns are obtained the pattern is determined by three parameters the degree of impatience of the patient traders which we model as the cost of execution delay in providing liquidity their proportion in the population which determines the degree of competition among the liquidity providers and the tick size which is the cost of the minimal price improvement despite its simplicity the model generates a rich set of empirical predictions on the relation between market parameters time to execution and spreads we argue that the economic intuition of this model is so basic its main results must be robust in much more general models

on pollution permits and abatement abstract we construct a dynamic general equilibrium model of pollution and study in a holistic way the environmental policies whereby government sets up emission caps and sells emission permits at a competitive price which can be viewed as an emission tax then it uses the collected tax revenues to finance public abatement activities we characterize a steady state equilibrium and show how it changes with the size of the economy and with a change in natural pollution absorption rate

accounting for net entry into greek manufacturing by establishments of varying size adopting the view that size matters in understanding entry exit patterns this research explores the nature and causes of net entry patterns of various size defined groups of establishments in the case of a less industrialised country greece the hypothesis to be tested is that the determinants of entry are not independent of firm size throughout this paper the analysis has had to confront difficulties arising from the use of net entry rates defined at the size class level the degree of size disaggregation used in this paper is considerably finer than used before five employment defined size classes have been used instead of sliding cut off points discriminating between small and large firms unlike other research using pooled models to explain variation in entry exit rates across industries the data used here are characterised by the absence of significant industry specific systematic variation overall the results obtained in this paper indicate that there is a gradation in the responses of different size classes to stimuli defined at the industry level evidence is offered that small firms are different in that they manage to overcome entry barriers perhaps adopting different survival strategies and that large firms are well aware of market conditions and are in an advantageous position to overcome many of the problems imposed by entry barriers size classes in the middle of the size class distribution offer a rather mixed result due to size related advantages and disadvantages

foreign direct investment competition and industrial development in the host country this paper analyses the impact of foreign direct investment fdi on the development of local firms we focus on two likely effects of fdi a competition effect which deters entry of domestic firms and positive market externalities which foster the development of local industry using a simple theoretical model to illustrate how these forces work we show that the number of domestic firms follows a u shaped curve where the competition effect first dominates but is gradually outweighed by positive externalities evidence for ireland tends to support this result specifically applying semi parametric regression techniques on plant level panel data for the manufacturing sector we find that while the competition effect may have initially deterred local firms entry this initial effect has been outpaced by positive externalities making the overall impact of fdi largely positive for the domestic industry

trims environmental taxes and foreign investment various second best policy mixes of investment measures and environmental taxes for a polluted small open economy with foreign capital and immovable trade restrictions are examined the optimal policy mix depends on the types of trade restrictions when tariffs are in place strict policies of pollution taxes and export requirements are optimal for alleviating tariff induced consumption and production distortions when involuntary quotas are used in lieu of tariffs however the optimal policy mix is a zero export requirement and pigouvian taxes on pollution for the case of vers however the optimal policy demands export requirements and a less stringent pollution tax trims impots environnementaux et investissement etranger ce memoire examine certains ensembles de politiques de second ordre portant sur l investissement et les impots environnementaux dans une petite economie ouverte polluee ou il y a capital etranger et restrictions au commerce international quand on a des droits de douane en place des politiques de fiscalite environnementale et d exportations requises sont optimales pour corriger les distorsions aux patterns de production et de consommation engendrees par les droits de douane cependant quand des contingentements involontaires sont en place plutot que des droits de douane le melange optimal de politiques est de ne pas requerir d exportation mais d imposer des taxes a la pigou sur la pollution pour ce qui est des restrictions volontaires a l exportation le melange optimal de politiques reclame une taxe moins forte sur la pollution accompagnee par un certain niveau d exportation requis

the term structure of implied forward volatility recovery and informational content in the corn options market using a flexible method we develop the term structure of volatility implied by corn futures options with differing maturities and evaluate its ability to predict subsequent realized price volatility the implied forward volatilities anticipate realized volatility well for the nearby interval the implied forward volatilities provide unbiased forecasts and are superior to forecasts based on historical volatilities for more distant intervals early year options predict the direction and magnitude of future volatility changes about as well as a three year moving average and better than a naive forecast however later year options display less forecast power in part due to reduced trading activity

entrepreneurial strategy and the presence of small firms a model is presented hypothesizing that the level of small firm presence in any given industry emanates from the exogenous stock of entrepreneurial talent a stochastic element of managerial and entrepreneurial talent entry deterrence and the entrepreneurial strategy deployed by small firms using data newly released by the u s small business administration the hypothesis is tested for a sample of 247 four digit standard industrial classification industries spanning the entire spectrum of firm sizes we find that consistently for all the measures of small firm size and for all of the time periods used the existence of entry deterrence and reliance upon innovative strategy explains a significant proportion of the variation in the presence of small firms

company bankruptcies and births matter this paper constructs a simple supply orientated model of the economy in which company bankruptcies which lead to a loss of capital and births have impacts on macroeconomic variables bankruptcies will reduce output increase unemployment worsen the balance of payments and also impact upon inflation empirical work based on data from both the usa and the uk finds a significant granger causality relationship between bankruptcies and births and these four macroeconomic variables the standard granger causality regression is supplemented by non linear granger causality tests

the changing geography of producer services employment in britain gillespie a e and green a e 1987 the changing geography of producer services employment in britain reg studies 21 397 411 this paper examines the changing geography of producer services employment in britain between 1971 and 1981 using data from the census of employment the study begins with a review of alternative views on the service sector and its relationship to economic growth and the place of producer services within the division of labour is described it is shown that there is a pronounced urban and regional differentiation in producer services employment factors operating to increase the concentration of such employment are indentified as are counteracting tendencies favouring deconcentration individual producer services industries are shown to display different locational logic and varying trends of concentration and deconcentration during 1971 81 overall the maintenance of the spatial concentration of producer services employment in southern britain coupled with relative decon

what factors inspire the high entry flow in taiwan s manufacturing industries a count entry model approach why is the entry flow of the manufacturing sector extremely high in taiwan and does it contribute to the prevailing entrepreneurship this article aims to explore what factors inspire potential entrants to go into an industry based on a theoretical formulation of the poisson probability entry model a count data model is employed to investigate the determinants of entry flows the empirical results reveal that traditional entry barriers indeed lower the entry flow the entry incentives including price cost margin and industry growth play a lesser role at attracting new firms while alternatively the market size acts as a better proxy of an entry incentive in explaining entry flows incumbents responses to entry r d and advertising intensity are found to be associated with a significant negative impact on entry flows this article also finds that there is a higher bound of covariate of entry about 10 that can be attributed to the immeasurable personality of entrepreneurs entrepreneurship rather b

creative destruction among industrial firms in the united states there is a growing interest in dynamic modeling of capitalism as recent experience has demonstrated the importance of innovation in shaping the structure and growth rate of capitalist nations economists recognize that innovation by its nature describes a dynamic evolutionary model of capitalism which is inadequately described by the equilibrium models which have dominated economic thought since the 19th century

capital constraints and the performance of entrepreneurial firms in vietnam entrepreneurship has been among the key driving forces of the emergence of a dynamic private sector during the recent decades in vietnam this article addresses for vietnam the questions how capital constraints affect the performance of family firms and how entrepreneurs human and social capital interact with capital constraints to leverage entrepreneurial income a panel of 1721 firms in 4 years is used results are consistent with the resource dependency approach indicating an adverse effect of capital constraints on firm performance firms suffering capital constraints perform substantially better suggesting that they need more capital simply to finance newly recognized profit opportunities human capital plays a vital role in relaxing capital constraints and improves the entrepreneurial performance whereas the effect of social capital stemming from strong ties and weak ties is limited strong ties bring emotional support and weak ties give nonfinancial benefits from regular and useful business contacts advanced econometric analysis tools to take into account the endogeneity of capital constraints are used to establish relationships among relevant variables

intraday market effects in electronic soybean futures market during non trading and trading hour announcements abstractthis article investigates market reactions to major united states department of agriculture announcements during non trading and trading hours in the soybean futures market using microstruc

wage and competition channels of foreign direct investment and new firm entry using a rich data set of the dutch manufacturing sector between 1995 and 2010 we investigate the effect of foreign direct investment fdi on domestic new firm entry the emerging empirical literature has focused on the direct relationship between fdi and entry but has not explored the mechanisms behind the observed effect drawing on a simultaneous equations model our analysis features both the direct effect of fdi as well as indirect effects through two channels industry competition and wages we estimate the parameters through 3sls and take into account the endogeneity of competition and wages with respect to entry our results show that there is a significant negative direct effect of fdi on entry at the same time fdi decreases competition and increases wage levels which then impact entry positively and negatively respectively the total effect of fdi is negative but small and virtually disappears after one year policy implications are discussed

high frequency quoting short term volatility in bids and offers at subsecond horizons bids and offers in u s equity markets are more volatile than what would be implied by long term fundamentals to assess costs and consequences this paper suggests that traders random delays latencies interact with quote volatility to generate execution price risk and relative latency costs analysis of the behavior of quote setters suggests that this volatility is more likely to arise from recurrent cycles of undercutting similar to the edgeworth cycles found in product markets rather than mixed strategies of limit order placement

eighths sixteenths and market depth changes in tick size and liquidity provision on the nyse using limit order data provided by the nyse we investigate the impact of reducing the minimum tick size on the liquidity of the market while both spreads and depths quoted and on the limit order book declined after the nyse s change from eighths to sixteenths depth declined throughout the entire limit order book as well the combined e ect of smaller spreads and reduced cumulative limit order book depth has made liquidity demanders trading small orders better o however traders who submitted

industrial restructuring and economic growth the last two decades have been a period of structural change in industrialised countries the extent of this restructuring process has been different across countries and industries though in this paper we investigate the effect of lagging behind in the process of downsizing and deconcentration we find empirical evidence of industries that experienced only little downsizing when compared internationally to experience less subsequent growth on average however this effect is industry dependent and its magnitude depends upon whether firm or establishment data are used technologically advanced industries are found to be particularly sensitive to lack of restructuring

why is labour managed firm entry so rare an analysis of uk manufacturing data abstract why are there so few labour managed entrants in market economies we address this question by analysing a panel of labour managed entrants into uk manufacturing industries using poisson and negative binomial random effects models our main finding is a significant negative relationship between entry counts and both the capital labour ratio and the variance of profits this is consistent with long standing theoretical arguments that labour managed firms face problems in raising capital and spreading risk

the behavior of bid ask spreads in the electronically traded corn futures market this is the first paper to analyze liquidity costs in agricultural futures markets based on the observed bid ask spread bas faced by market participants the results reveal a highly liquid corn market that mostly offers order execution at minimum cost the bas responds negatively to volume and positively to price volatility but also affects volume traded and price volatility while statistically significant these responses on a cents bushel or a percentage basis are generally small liquidity costs are also virtually impervious to short term changes in demand for spreading and trend following trader activity as well as differences from day of the week changes in market activity much larger cents bushel and percentage changes in bas occur during commodity index trader roll periods and on usda report release days the roll period findings indicate a sunshine trading effect while announcement effects identify the importance of unexpected information and adverse selection on order execution costs overall our research demonstrates that the transition to electronic trading in the corn futures market has led to low and stable liquidity costs despite the market turbulence in 2008 2009

concentration product variety and entry for merger evidence from new product introductions in the u s food industry competing theories in industrial organization predict that more concentrated industries will lead to a smaller and more efficient variety of products or alternately a larger and less efficient array of products this paper presents an empirical study of these competing implications that estimates the impact of market concentration on new product introductions in a panel of nine food processing industries over 1983 to 2004 controlling for industry level unobservables using fixed effects and endogeneity of industry market structure we find that industry concentration promotes the introduction of new products preliminary evidence also suggests that new product introductions spur subsequent food industry mergers both conclusions are consistent with the entry for merger theory of product variety wherein small firms introduce new products in anticipation of profitable future mergers with concentrated firms

level shifts and the illusion of long memory in economic time series when applied to time series processes containing occasional level shifts the log periodogram gph estimator often erroneously finds long memory for a stationary short memory process with a slowly varying level i show that the gph estimator is substantially biased and derive an approximation to this bias the asymptotic bias lies on the 0 1 interval and its exact value depends on the ratio of the expected number of level shifts to a user defined bandwidth parameter using this result i formulate the modified gph estimator which has a markedly lower bias i illustrate this new estimator via applications to soybean prices and stock market volatility

bankruptcies firm size and unemployment a big bang theory of economic cycles this paper analyses the impact of bankruptcies on unemployment in an economy characterised by no substitutability of labour a computer simulation model is used to analyse its properties spectral analysis reveals the existence of cycles in unemployment it is found that average unemployment tends to be lower the more flexible are wages and interest rates provided both move anticyclically and the more rapid is the speed with which existing firms expand an economy characterised by small firms is found to be more stable with a tendency to a longer cycle than one characterised by large firms however given the assumptions we have made it is also likely to be characterised by higher average unemployment

strategies for cross national comparisons matching research issues and analysis objectives comparisons across different national economies can make a major contribution to understanding the role of entrepreneurial activity and new firm foundings in economic growth and change at least four cross national strategies are possible 1 direct comparisons 2 historical or time series correlations 3 comparison of cross market analyses or 4 comparison of cross regional analyses the distinctive value of cross regional analyses is considered and illustrated with a comparison of the effects of manufacturing births on economic growth in the u s and japan

determinants of firm start up size an application of quantile regression for ireland in this paper we provide empirical evidence on the determinants of firm start up size using data for the manufacturing sector in ireland and compare our results with recent findings for portuguese manufacturing industries mata and machado 1996 to allow for firm heterogeneity between firm entrants we use quantile regression techniques for our empirical estimation we find that the determinants of start up size differ in their importance for small and large scale entrants in particular industry size and industry growth seem to affect large scale entrants only

small firm entry in us manufacturing a cross section empirical analysis examining the entry behavior of small firms is provided in this paper while the authors find that certain traditional market structure characteristics and entry barriers have a strong impact on small firm entry behavior the reliance upon innovative strategy by small firms also explains a significant amount of the variation in the pattern of entry by small firms they conclude that small firm entry is at least partially determined by entry barriers industry specific characteristics facilitating retaliatory conduct by incumbent firms and the reliance upon innovative strategy by small firms copyright 1989 by the london school of economics and political science

market structure and innovation a survey economics we all recite deals with allocation of limited resources towards satisfaction of unlimited wants resources are typically identified as land labor and capital plus a technology that determines their transformation into consumer goods disparity between the available goods and services and the desired gives rise to scarcity and the question of what how and for whom to produce the focus then shifts to description and evaluation of alternative resource allocation mechanisms for making the choices the pareto criterion by which an allocation of resources is deemed efficient if any reallocation improving the position of some individual worsens the position of others is a commonly employed gauge of a mechanism s performance in the absence of externalities increasing returns to scale and uncertainty a perfectly competitive market system yields a pareto optimal allocation of resources this underlies the view that individual self interest is compatible with society s interest the further conclusion that pareto optimality may not be achieved via the market system in the presence of monopoly elements provides an economic rationale for antitrust laws the objective of a resource allocation mechanism appears to be according to the analysis described above to make the best of available resources the alternative objective of relaxing constraints through expanding the resource base or developing new technology seems to be beyond its scope thus until rather recently technical advance had been regarded in the mainstream of economic theory as unmotivated by the quest for profits and substantially unaffected by resource allocation instead as j schmookler observed technology had been viewed as a parameter like the weather affecting the outcome of resource allocations but itself unaffected by them 84 1965 evidence that technological progress has significantly contributed to growth in productivity together with a substantial increase in research and development activity largely financed by government and carried out by industry see f machlup 51 1962 may have spurred reconsideration of this view once technical advance is regarded as an economic variable it is natural to in

multistage selection and the financing of new ventures using a random sample of 221 new swedish ventures initiated in 1998 we examine why some new ventures are more likely than others to successfully be awarded capital from external sources we examine venture financing as a staged selection process in which two sequential selection events systematically winnow the population of ventures and influence which ventures receive financing for a venture to receive external financing its founders must first select it as a candidate for external funding and then a financier must fund it we find evidence that founders select ventures as candidates for external finance based on their perceptions of market competition market growth and employment growth while financiers base funding decisions on objective verifiable indicators of venture development such as the completion of organizing activities marketing activities and the level of sales of the venture our findings have implications for venture financing and evolutionary theories of social processes

sectoral differences in plant start up size in the finnish economy new knowledge on the factors behind the choice of plant entry scale is important for understanding the entry process and the recruitment decisions of new plants in different sectors of the economy the purpose of this paper is to evaluate the effect of various industry attributes on plant start up size measured with employment using data on the entire finnish business sector the paper extends previous research by examining the differences between manufacturing and services and by using a richer set of explanatory variables the relative importance of the covariates for different sized entrants is taken into account by using a quantile regression approach the results for manufacturing and services are remarkably similar however the findings imply that in the future analysis it is also important to consider the effect of the regional availability of educated and experienced work force on plant start up size in these two sectors the findings on the importance of scale economies and industry turbulence in determining start up size correspond to the earlier studies the results also show that single plant and multiplant entrants face a rather different entry environment in addition the employment share of foreign owned entrants in the industry has to be taken into account

the life cycle of the u s tire industry 1 introduction a recent literature has emerged focusing on industry evolution or the dynamic patterns that industries and firms follow as they systematically evolve over time this literature is important because of the insights provided about how industries change why they change and the consequences of industrial change the year 1982 saw three fundamental contributions made to the research on the evolution of industry boyan jovanovic published the first formal model of industry evolution richard nelson and sidney winter presented their influential book on the causes and effects of this phenomenon and michael gort and steven klepper published their careful analysis of the stages of the product life cycle knowledge concerning industry dynamics and industry evolution has expanded since then despite this progress in the field of industry evolution considerable gaps remain for example we lack an adequate empirical understanding of the evolutionary process at the single industry level from the early to the late stages of its life cycle shakeouts have been identified in the literature as an integral component of this evolutionary process the sudden disappearance of large numbers of firms have been documented across a broad spectrum of industries such as steel airline carriers financial intermediaries automobiles and tires an important strand in the literature argues that the catalyst for these shakeouts is the introduction of a new dominant innovation confronted by a new technology introduced by a competitor the inability of other firms to adopt this new dominant technology presumably forces them out of the market jovanovic and macdonald 1994 made a pioneering and parsimonious contribution in this field of research by explaining patterns of number of firms output and prices of the u s tire industry despite the importance of their contribution we argue that their model does not adequately describe the key historic developments that have taken place in this or many other industries that faced a shakeout of producers 2 the domain of relevance of the jovanovic macdonald model is limited it assumes that one innovation followed by just one refinement is responsible for the nonmonotonicity in firm numbers this implies that the model is applicable only for those industries having experienced just two technologies in their entire history an initial low tech and a subsequent high tech phase most industries including the automobile tire industry that was the testing ground of jovanovic and macdonald have an ongoing history of significant improvements in product quality and productivity it seldom occurs that one innovation is dominant this is certainly true for the tire industry nelson 1987 in his study on the u s tire industry observed that there was no single technical breakthrough that unlocked the industry s potential for highspeed production nor was any individual or firm of overriding importance the advent of mass production was a cumulative process resulting from a vast number of successive small changes pp 331 2 italics added almost half a century ago reynolds 1938 p 463 described a similar process the great improvement in tire quality during the past 30 years is undoubtedly due to constant repetition of the cycle of invention and imitation we take a different approach than jovanovic and macdonald and explain the nonmonitonicity in firm numbers as resulting from gradual unit cost reduction over time leading to declining profit margins in the present paper we relate this cumulative process to the concept of learning by doing we will test the model using data of the american tire industry we do this to facilitate the comparison between our model and that of jovanovic and macdonald and because this industry is one of the few for which data are available for a long time period the process of learning by doing leading to decreasing marginal costs over time has an important impact on the number of firms in the industry

the determinants of firm start up and entry in italian producer services in this paper the determinants of new firm formation in the producer services are studied by using national security data on firms with at least one employee two ratios are computed and analysed for the 95 italian provinces an index of fertility represented by the share of new enterprises on employees and a birth rate represented for each province by the ratio between new enterprises and resident population on examination of the determinants of this process we found that the average wage rates and the ratio of utilized credit to the total line of credit negatively affect both indexes and that both indexes are affected positively by sector growth and by a measure of small firm presence the index of fertility is also explained by a dummy variable which identifies for each province those policies which are aimed at fostering the process of new firm formation the birth rate is instead affected by a dummy variable which is equal to one for the provinces in which the chief towns of each region are located and zero otherwise and by the potential demand for new producer services arising from the industrial sector

the internationalization of small and medium sized enterprises a policy perspective small and medium sized firms play an impor tant role in the process of creative destruction the focus of the paper is on the international diffusion of small and medium sized firms innovations small and medium sized firms face two challenges in globalization property rights protection and barriers to entry we suggest that these barriers can frequently be circumvented by using existing multinationals as interna tional conduits for small and medium size firms innovations however such intermediated modes of expansion is adversely affected by transaction difficulties and intermediator s rent extraction we raise two categories of questions i is the private sector systematically making the wrong choice between the direct and intermediated mode of international expansion and ii what should be the policy guidelines to improve the overall rate of international diffusion of innova tion by small and medium sized enterprises

a dynamic general equilibrium model of pollution abatement under learning by doing in 2013 beladi et al constructed a dynamic general equilibrium model of pollution and characterized a steady state equilibrium in this paper we extend beladi et al s model to an even more general model in which the pollution abatement costs under learning by doing are taken into account in our model the instantaneous abatement costs depend on both the rate of abatement and the experience of using a technology our objective is to apply optimal control theory to investigate the dynamic general equilibrium model of pollution abatement and derive the steady state equilibrium properties and optimal levels of emission permits and pollution treatment

state antitrust enforcement in the us and implications for small business entry and relocation this article examines the impact of the important yet little studied state level antitrust enforcement activity on entry and relocation behaviour by small us firms feinberg and husted 2011 have shown that this enforcement especially nonhorizontal cases may be viewed by potential entrants as a negative aspect of the state business climate however they did not pursue a more disaggregate analysis of small firm entry behaviour nor did they investigate different responses between manufacturing wholesaling and retailing firms another related issue is the extent to which state cases filed in tandem with federal investigations have the same impact on establishment entry as do purely independent cases these considerations are dealt with in this article the author uses annual state level data from the statistics of us business to examine entry and relocation reactions to state antitrust enforcement by firms within three small business categories 1 19 employees 20 99 employees 100 499 employees g

small scale industry and technology in india the case of the computer industry this article finds that small firms in newly industrializing countries can serve as a conduit for technical change small firms in india s computer industry have helped narrow the technology gap between the domestic industry and its international counterpart successful innovator firms have grown larger changes in government policies were essential for the maturation of the nascent indian high technology industry