Hrvatsko društvo ekonomista

ARTICLES ::: AUTHORS ::: ARTICLES SEARCH

June 2018. ::: Vol.69 No. 03

Besnik A. Krasniqi
Saranda Lajqi

GIBRAT’S LAW AND JOVANOVIC’S LEARNING THEORY: AN EMPIRICAL TEST FOR SMALL FIRMS IN A POSTCONFLICT ECONOMIC SETTING https://doi.org/10.32910/ep.69.3.3 Prethodno priopćenje This article tests the validity of Gibrat’s Law and Jovanovic’s learning theory for growing small and medium-sized firms (SMEs) in post-conflict economy of Kosovo. Despite evolving body of evidence suggesting that Gibrat’s Law does not hold, there is a lack of empirical evidence from transitional and post-conflict economies. This study provides econometric analysis of the relationship of age, size and growth of SMEs. The article is based on pooled SME surveys conducted by Riinvest Institute (2004- 2006). Econometric findings show that Gibrat’s Law does not hold in all model specifications while support the conventional Jovanovic’s learning theory based on growth-size age model suggesting important policy implications for promotion of small firms in Kosovo. size; age; Gibrat’s Law; Jovanovic’s learning theory; growth; SMEs; Kosovo Puni tekst: engleski, pdf (336 KB)

GIBRAT’S LAW AND JOVANOVIC’S LEARNING THEORY: AN EMPIRICAL TEST FOR SMALL FIRMS IN A POSTCONFLICT ECONOMIC SETTING

https://doi.org/10.32910/ep.69.3.3

Prethodno priopćenje

This article tests the validity of Gibrat’s Law and Jovanovic’s learning theory for growing small and medium-sized firms (SMEs) in post-conflict economy of Kosovo. Despite evolving body of evidence suggesting that Gibrat’s Law does not hold, there is a lack of empirical evidence from transitional and post-conflict economies. This study provides econometric analysis of the relationship of age, size and growth of SMEs. The article is based on pooled SME surveys conducted by Riinvest Institute (2004- 2006). Econometric findings show that Gibrat’s Law does not hold in all model specifications while support the conventional Jovanovic’s learning theory based on growth-size age model suggesting important policy implications for promotion of small firms in Kosovo.

size; age; Gibrat’s Law; Jovanovic’s learning theory; growth; SMEs; Kosovo

Puni tekst: engleski, pdf (336 KB)