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Exit from Declining Industries and the Case of Steel Castings

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  • Baden-Fuller, Charles W F

Abstract

Because of conflicts between owners, managers and creditors, closure of unprofitable plants may be more difficult for an undiversified firm than a diversified firm. An examination of qualitative and quantitative evidence on plant closures in the U.K. steel castings industry between 1979 and 1983 supports the view that firm effects matter and suggests that closure patterns may have been inefficient. Copyright 1989 by Royal Economic Society.

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  • Baden-Fuller, Charles W F, 1989. "Exit from Declining Industries and the Case of Steel Castings," Economic Journal, Royal Economic Society, vol. 99(398), pages 949-961, December.
  • Handle: RePEc:ecj:econjl:v:99:y:1989:i:398:p:949-61
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    1. Ã…dne Cappelen & Nils Petter Gleditsch & Olav Bjerkholt, 1984. "Military Spending and Economic Growth in the OECD Countries," Journal of Peace Research, Peace Research Institute Oslo, vol. 21(4), pages 361-373, December.
    2. Fagerberg, Jan, 1987. "A technology gap approach to why growth rates differ," Research Policy, Elsevier, vol. 16(2-4), pages 87-99, August.
    3. Kellman, M, 1983. "Relative Prices and International Competitiveness: An Empirical Investigation," Empirical Economics, Springer, vol. 8(3-4), pages 125-138.
    4. Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
    5. Smith, R P, 1977. "Military Expenditure and Capitalism," Cambridge Journal of Economics, Oxford University Press, vol. 1(1), pages 61-76, March.
    6. Houthakker, Hendrik S & Magee, Stephen P, 1969. "Income and Price Elasticities in World Trade," The Review of Economics and Statistics, MIT Press, vol. 51(2), pages 111-125, May.
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