Small firms in Portugal: a selective survey of stylized facts, economic analysis, and policy implications
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- Cabral, L.M.B. Port. Econ. J. (2007) 6: 65. doi:10.1007/s10258-007-0018-9
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I survey a number of stylized facts pertaining to the dynamics of firm entry, growth, and exit in competitive industries. I focus particularly on data for Portugal, although I also consider, for comparison purposes, data from other countries. I then present a series of theoretical models that attempt to explain the stylized facts and evaluate the welfare impact of market distortions. Finally, I derive a number of policy implications, all centered around the notion of economic mobility.