Mariana MAZZUCATO

Open University - UK

Massimiliano TANCIONI

Universita'La Sapienza

INDICES THAT CAPTURE CREATIVE

DESTRUCTION : QUESTIONS AND IMPLICATIONS

Mots-clés : Destruction créatrice, croissance relative, innovation, volatilité. Key words : Creative Destruction, Relative Growth, Innovation, Volatility.

Entry and exit patterns in the microeconomics and industrial organization (IO) literature, and firm turnover rates in the macroeconomics literature, are often used to describe and measure industrial turbulence during periods of Schumpetarian creative destruction. Macro studies on the effect of innovation on the reallocation of resources within and between sectors use such data to study the turbulence underlying this reallocation (Caballero and Hammour 2000, Davis and Haltiwanger 1998). IO studies analyze the relationship between innovation and entry/exit patterns to gain insights on the cause and consequences of the industry « shakeout » common to the early evolution of many industries (Geroski and Mazzucato 2001, Gort and Klepper 1982, Klepper 1996, Utterback and Suarez 1993). And the organizational ecology literature, which lies at the intersection between strategic management and IO, studies the relationship between entry/exit rates (which they use to calculate « firm density ») and the dynamic process by which firms gain « legitimation » (Carroll and Hannan 2000).

REVUE D'ÉCONOMIE INDUSTRIELLE — n° 110, 2eme trimestre 2005 199