Introduction to Institutions, Entrepreneurship and Firm Growth: The Case of Sweden

Introduction to Institutions, Entrepreneurship and Firm Growth: The Case of Sweden Introduction to Institutions, Entrepreneurship and Firm Charlie Karlsson Growth: The Case of Sweden Zoltan J. Acs In 1970 Sweden was ranked as the third richest by the Swedish policies and institutional frame- OECD-country in terms of GDP/capita (adjusted work are likely to have hampered the efficient for purchasing power parity), almost 10 per cent allocation of resources, reduced productivity and above the OECD average. In the late 1990s about retarded economic growth and recovery. It is also 15 OECD-countries was ranked higher than likely that these distortions have had consequences Sweden and the Swedish GDP/capita was then for the size structure of firms and industrial dis- some 15 per cent below the OECD/average. tribution of employment. It looks as if Sweden’s Attempts by Swedish economists to explain the employment distribution is sharply tilted away unsatisfactory behaviour of the Swedish economy from lower wage industries, less capital-intensive since 1970 often claim that the institutional frame- industries and industries characterised by greater work in Sweden has had a strong negative growth employment shares for smaller firms and estab- impact during the actual period. The main argu- lishments. Compared to other OECD economies, ments put forward could be summarised as Sweden has Small Business Economics Springer Journals

Introduction to Institutions, Entrepreneurship and Firm Growth: The Case of Sweden

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Kluwer Academic Publishers
Copyright © 2002 by Kluwer Academic Publishers
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
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