Further econometric evidence on the gravitation and convergence of industrial rates of return on regulating capital
AbstractThe hypotheses of sectoral return rates on regulating capital either gravitating around or converging towards a common value is tested on data for various OECD countries by adopting two panel varying coefficient approaches. Our null hypotheses receive some empirical support, that turns out to be stronger once focusing on manufacturing industries only. We offer a meta-analytic framework to assess the results obtained in the present contribution and in the past literature as well. Finally we discuss implications for economic policies and future theoretical and empirical research.
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Bibliographic InfoPaper provided by University of Verona, Department of Economics in its series Working Papers with number 08/2011.
Date of creation: Jun 2011
Date of revision:
Publication status: Published in Journal of Post-Keynesian Economics
capital mobility; gravitation; convergence; return rates on regulating capital; varying coefficient estimator; panel data.;
Find related papers by JEL classification:
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
- L70 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - General
- L80 - Industrial Organization - - Industry Studies: Services - - - General
- L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-07-02 (All new papers)
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