Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries

Ufuk Akcigit, Harun Alp, Michael Peters

NBER Working Paper No. 21905
Issued in January 2016, Revised in April 2018

---- Acknowledgments ----

This is a heavily revised version of Akcigit, Alp, and Peters (2016). We thank the seminar and conference participants at Harvard, MIT, University of Chicago, Stanford, Princeton, Yale, USC, LSE, the Productivity, Development & Entrepreneurship, and Macroeconomics Within and Across Borders Meetings at the NBER Summer Institute, the NBER Development Program and EFG Meeting, Stanford CID/IGC Conference, AEA Meetings, OECD/NBER Conference on Productivity and Innovation, Minnesota Macro, NYU, Penn State, Einaudi, University of Houston, Barcelona GSE Summer Forum, Kauffman Entrepreneurship Conference, London Macroeconomics Conference, CAED 2015 Conference, Cologne Workshop on Macroeconomics, SKEMA Growth Conference, UPenn Growth Reading Group, and UPenn Macro Lunch for helpful comments. In particular we would like to thank our discussants Francesco Caselli, John Haltiwanger, Chang-Tai Hsieh, Rasmus Lentz, and Yongs Shin. We furthermore received very valuable feedback from Abhijit Banerjee, Nick Bloom, Matthew Cook, Jeremy Greenwood, Bill Kerr, Pete Klenow, Chad Jones, Sam Kortum, Robert E. Lucas, Giuseppe Moscarini, Luis Serven, Andrei Shleifer, and Nancy Stokey. Chang-Tai Hsieh and Pete Klenow have kindly shared some of their data with us. Jeremy Pearce provided excellent research assistance. Akcigit gratefully acknowledges financial support from the World Bank, the Alfred P. Sloan Foundation, the Ewing Marion Kauffman Foundation, and the National Science Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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