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Increasing Returns and Externalities in UK Manufacturing: Myth or Reality?

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  • Oulton, Nicholas

Abstract

The author applies the method of R. J. Caballero and R. K. Lyons to industry-level data for U.K. manufacturing. He finds evidence for a positive external effect, arising from the expansion of manufacturing as a whole, but expansion at the sectoral level was found not to generate external effects. Nor was any evidence found for increasing returns that are internal to the industry: here returns appear to be constant. The author argues that external effects at the level of aggregate manufacturing cannot be explained away as due to measurement error or cyclical effects. However, alternative explanations, such as economywide shocks, cannot be totally excluded. Copyright 1996 by Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Journal of Industrial Economics.

Volume (Year): 44 (1996)
Issue (Month): 1 (March)
Pages: 99-113

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Handle: RePEc:bla:jindec:v:44:y:1996:i:1:p:99-113

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821

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Cited by:
  1. Ana Rincon & Michela VECCHI & Francesco VENTURINI, 2012. "ICT spillovers, absorptive capacity and productivity performance," Quaderni del Dipartimento di Economia, Finanza e Statistica 103/2012, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
  2. Andreas Pfingsten & Reiner Wolff, 2009. "Factor Supply Changes in Small Open Economies: Rybczynski Derivatives under Increasing Marginal Costs," Finnish Economic Papers, Finnish Economic Association, vol. 22(1), pages 9-20, Spring.
  3. Girma, Sourafel & Holger Gorg, 2003. "Foreign ownership, returns to scale and productivity: Evidence from UK manufacturing establishments," Royal Economic Society Annual Conference 2003 87, Royal Economic Society.
  4. Ciaran Driver & Paul Temple & Giovanni Urga, 2005. "Identifying Externalities in UK Manufacturing Using Direct Estimation of an Average Cost Function," School of Economics Discussion Papers 1005, School of Economics, University of Surrey.
  5. repec:hal:journl:halshs-00598033 is not listed on IDEAS
  6. P. Hart, 2000. "Theories of Firms' Growth and the Generation of Jobs," Review of Industrial Organization, Springer, vol. 17(3), pages 229-248, November.
  7. Cameron, G. & Proudman, J. & Redding, S., 1998. "Deconstructing Growth in UK Manufacturing," Papers 28, Centre for Economic Performance & Institute of Economics.
  8. Francesco Venturini & Ana Rincon-Aznar & Dr Michela Vecchi, 2013. "ICT as a general purpose technology: spillovers, absorptive capacity and productivity performance," NIESR Discussion Papers 11717, National Institute of Economic and Social Research.
  9. Biewen, Martin & Weiser, Constantin, 2011. "A New Approach to Testing Marginal Productivity Theory," IZA Discussion Papers 6113, Institute for the Study of Labor (IZA).
  10. Pemberton, James, 1999. "Social Security: National Policies with International Implications," Economic Journal, Royal Economic Society, vol. 109(457), pages 492-508, July.
  11. Salvador Barrios & Eric Strobl, 2002. "Foreign direct investment and productivity spillovers: Evidence from the Spanish experience," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 138(3), pages 459-481, September.
  12. Lindström, Tomas, 1999. "External Economies at the Firm Level: Evidence from Swedish Manufacturing," Working Paper Series 89, Sveriges Riksbank (Central Bank of Sweden).
  13. Nigel Driffield & Max Munday & Annette Roberts, 2002. "Foreign Direct Investment, Transactions Linkages, and the Performance of the Domestic Sector," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 9(3), pages 335-351.

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