원문정보
초록
영어
This study analyzes and compares the roles and significance of large firms in economic growth by differentiating developmental stages. The focus is on both the role of big businesses on the road from middle- to high-income countries and the performance in their economies. By classifying the top 30 nonfinancial firms into their origin countries, we have constructed a country-level data basis covering 33 countries ranging from middle- to high-income economies for the 2001 to 2017 period. We conduct fixed effect estimation. Empirical results show that capital-intensive big businesses would be more predominant in developed economies. In terms of policy implications, the results suggest that if policymakers want to optimize the role of big businesses in economic growth, policymakers need to distinguish the income level. Policymakers also need to adjust the size distribution of firms moderately ahead of time to create the size distribution of firms needed to take the economy to the next level.
목차
1. Introduction
2. Theoretical Background and Hypotheses
2.1. Factor Endowments, Optimal Industrial Structure, and Optimal Distribution of Firm Size
2.2. Comparison of the Performance of Big Businesses at Different Development Levels
3. Research Design
3.1. Model Design
3.2 Data and Variables
4. Empirical Results
4.1. Basic Relationship between Big Businesses and Economic Growth
4.2. Role of Big Businesses at Different Developmental Stages
4.3 Dynamics of Large Firms across a Range of Years
5. Summary and Concluding Remarks
Acknowledgment
References