Recent Developments in Productivity and the Role of Entrepreneurship in Italy: An Industry View
Abstract
This paper explores the existing interplay between productivity trends across Italian industries, in the decade 1995-2005, and entrepreneurship, highlighting the urgent need for a revival in entrepreneurial capital in some industries. Initially, we consider as a measure of entrepreneurship the birth rates for different industries; this proxy proved to be a significant explanatory variable of a sector’s efficiency. We then attempt to extract a measure of managerial ability directly from the data, considering it as an unobservable and using Bayesian techniques to perform the estimation, which further reinforces the previous results.Download Info
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Article provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 98 (2008)
Issue (Month): 2 (March-April)
Pages: 179-214
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Related research
Keywords: entrepreneurship; productivity growth; stochastic frontiers; Bayesian analysis; Gibbs sampling.;Find related papers by JEL classification:
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
References
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