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Industry Evolution in Varieties of Capitalism: a Comparison of the Danish and US Wind Turbine Industries

Author

Listed:
  • Menzel, Max-Peter

    (University Bayreuth)

  • Kammer, Johannes

    (University Hamburg)

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.

Suggested Citation

  • Menzel, Max-Peter & Kammer, Johannes, 2017. "Industry Evolution in Varieties of Capitalism: a Comparison of the Danish and US Wind Turbine Industries," Papers in Innovation Studies 2017/9, Lund University, CIRCLE - Centre for Innovation Research.
    • Handle: RePEc:hhs:lucirc:2017_009
    as

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    File URL: http://wp.circle.lu.se/upload/CIRCLE/workingpapers/201709_menzel_et_al.pdf
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    References listed on IDEAS

    as
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    Cited by:

    1. Luis Carvalho & Mario Vale, 2018. "Biotech by Bricolage? Agency, institutional relatedness and new path development in peripheral regions," Papers in Evolutionary Economic Geography (PEEG) 1801, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Jan 2018.

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    More about this item

    Keywords

    industry evolution; varieties of capitalism; heritage theory; wind turbine industry; institutions;
    All these keywords.

    JEL classification:

    • L64 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Machinery; Business Equipment; Armaments
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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