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O non cumprimento da lei de gibrat en economías en desenvolvemento: O caso de Ecuador no período 2000-2013

Abstract:

Ecuador is of the Latin American countries experiencing significant changes in the social and economic field in recent decades, becoming one of the most important economies in the region. Therefore, it is relevant to know the existing relationships between the size and growth of companies in this country. This study accomplishes this by contrasting Gibrat's law in a sample of 25,179 companies from all economic sectors for the period 2000-2013. We apply the generalized method of moments in two growth models and it is used as a measure of growth regarding both sales and employment. Findings show that the growth rates of large companies are lower than those of small companies. In addition, age has a non-linear relationship, while in the first years of life the relationship is negative, at a certain age changes to positive. This research provides evidence for the orientation of public policies in developing countries.