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Autor:innen: 
Erscheinungsjahr: 
2021
Verlag: 
ZBW - Leibniz Information Centre for Economics, Kiel, Hamburg
Zusammenfassung: 
What drives investment in automation technologies? This paper documents a positive relationship between labor-friendly institutions and investment in industrial robots in a sample of developing and advanced economies. Institutions explain a substantial share of cross-country variation in automation. The relationship between institutions and robots is stronger in sunk cost-intensive industries, where producers are vulnerable to holdup. The result suggests that one reason for producers to invest in automation is to thwart rent appropriation by labor. As a consequence, policies aimed at supporting workers’ welfare by increasing their bargaining power might actually reduce their employment opportunities.
Schlagwörter: 
Robots
Institutions
automation
holdup
unions
sunk costs
appropriability
bargaining
frictions
rents
technology adoption
JEL: 
O32
O33
L16
J50
O57
Dokumentart: 
Working Paper

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