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Recent Developments in Productivity and the Role of Entrepreneurship in Italy: An Industry View

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Author Info
Andrea Brasili () (UniCredit Group, Milan)
Loredana Federico () (UniCredit Group, Milan)
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.

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File URL: http://www.rivistapoliticaeconomica.it/2008/mar-apr/Brasili-Federico.pdf
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Publisher Info
Article provided by SIPI Spa in its journal Rivista di Politica Economica.

Volume (Year): 98 (2008)
Issue (Month): 2 (March-April)
Pages: 179-214
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:rpo:ripoec:v:98:y:2008:i:2:p: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: General - - - Bayesian Analysis

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  1. Chib, Siddhartha, 2001. "Markov chain Monte Carlo methods: computation and inference," Handbook of Econometrics, in: J.J. Heckman & E.E. Leamer (ed.), Handbook of Econometrics, edition 1, volume 5, chapter 57, pages 3569-3649 Elsevier. [Downloadable!] (restricted)
  2. Marcello M. Estevão, 2004. "Why is Productivity Growth in the Euro Area So Sluggish?," IMF Working Papers 04/200, International Monetary Fund. [Downloadable!]
  3. Efthymios G. Tsionas, 2002. "Stochastic frontier models with random coefficients," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 17(2), pages 127-147. [Downloadable!]
  4. Chib, Siddhartha & Greenberg, Edward, 1995. "Hierarchical analysis of SUR models with extensions to correlated serial errors and time-varying parameter models," Journal of Econometrics, Elsevier, vol. 68(2), pages 339-360, August. [Downloadable!] (restricted)
  5. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-32.
  6. Roeger, Werner, 1995. "Can Imperfect Competition Explain the Difference between Primal and Dual Productivity Measures? Estimates for U.S. Manufacturing," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 316-30, April. [Downloadable!] (restricted)
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This page was last updated on 2009-12-11.

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