Tangible and Intangible Capital and the Pattern of Specialisation in the EU
AbstractThis paper investigates the determinants of specialisation in 7 European countries and 4 major industrial sectors in the last 20 years. Next to the impact of traditional factors such as productivity and the endowment of labour and capital, we look at the importance of accounting for capital heterogeneity, by distinguishing between ICT and non-ICT assets, and for intangible capital such as skills and R&D. Our results show that intangible capital and innovation play an important part in increasing the value added shares of the Manufacturing sector while increasing investments in ICT have driven resources away from Manufacturing and towards the Service industry.
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Bibliographic InfoArticle provided by Università di Perugia, Dipartimento Economia, Finanza e Statistica in its journal Review of Economics and Institutions.
Volume (Year): 1 (2010)
Issue (Month): 2 ()
specialisation; value added shares; factor accumulation; TFP; ICT capital; R&D; skills;
Find related papers by JEL classification:
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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- Ioannis Bournakis & Michela Vecchi & Francesco Venturini, 2011. "Offshoring and Specialisation: Are Industries Moving Abroad?," Quaderni del Dipartimento di Economia, Finanza e Statistica 98/2011, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
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