chapter  15
10 Pages

What have we learned? Lessons for enterprise policy

ByANNA MARIA FERRAGINA , EROL TAYMAZ AND

The chapters of this volume deal with the relationship between firm dynamics (entry, survival/exit and growth), innovation and globalization. These processes are essential for long-term economic growth and welfare creation because they determine how efficiently we are using our resources, and how effectively we are expanding our capabilities. These issues have received increasing attention from enterprises and policy makers, because globalization, limits imposed by scarcity of natural resources and the last protracted world economic crisis have intensified competition on the world scale. Enterprises, small and large, local and global alike, try to understand how they can survive and grow in a rapidly changing competitive environment, and their cries for ‘protection’ and ‘public support’ have intensified considerably in recent years. Any empirical study on firm dynamics stimulates an irresistible temptation to propose policy recommendations. The empirical chapters of this volume are no exception. However, instead of paving the way for simple generalizations based on specific circumstances, the diversity of issues addressed, countries analysed and methodologies employed in all these chapters shed light on different parts and aspects of reality, help us to comprehend the complexity of real-world phenomena and to appreciate the multi-faceted characteristics of public policy towards enterprises. The findings of these studies provide both additional empirical support for stylized facts documented in earlier studies, and new insights for enterprise policy.1