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Twenty-two econometric tests on the gravitation and convergence of industrial rates of return in New Zealand and Taiwan

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  • Andrea Vaona

Abstract

We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with those of the past literature. Various kinds of limitations to capital mobility can hamper the tendential equalization of return rates. Focusing on those arising from different innovation capabilities across industries can pave the way to collaboration between evolutionary and radical political economics.

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  • Andrea Vaona, 2013. "Twenty-two econometric tests on the gravitation and convergence of industrial rates of return in New Zealand and Taiwan," International Review of Applied Economics, Taylor & Francis Journals, vol. 27(5), pages 597-611, September.
    • Handle: RePEc:taf:irapec:v:27:y:2013:i:5:p:597-611
    DOI: 10.1080/02692171.2013.778820
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    References listed on IDEAS

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    1. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
    2. Geoffrey M. Hodgson, 2006. "Economics in the Shadows of Darwin and Marx," Books, Edward Elgar Publishing, number 3925.
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    Cited by:

    1. Stefania Tescari & Andrea Vaona, 2014. "Regulating Rates of Return Do Gravitate in US Manufacturing!," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 377-396, July.
    2. Trofimov, Ivan D., 2018. "Industry rates of return in Korea and alternative theories of competition: equalising convergence versus tendential equalisation," MPRA Paper 88390, University Library of Munich, Germany.

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