Papers in Innovation Studies, CIRCLE, Center for Innovation, Research and Competences in the Learning Economy, Lund University
Industry Evolution in Varieties of Capitalism: a Comparison of the Danish and US Wind Turbine Industries
() and Johannes Kammer
Abstract: In this study, we combine Klepper’s framework on the
evolution of industries with the Varieties of Capitalism approach to argue
that industry evolution is mediated by institutional differences. We expect
that new industries will evolve with a stronger connection to established
industries in coordinated marked economies than in liberal market
economies. Our assumptions are supported by the survival analysis of US and
Danish wind turbine manufacturers from 1974 to 2014.
Keywords: industry evolution; varieties of capitalism; heritage theory; wind turbine industry; institutions; (follow links to similar papers)
JEL-Codes: L64; O15; P51; (follow links to similar papers)
54 pages, June 9, 2017
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