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Convergence and Hierarchy of Industrial Profit Rates: The Case of Greek Manufacturing

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  • Theodore P. Lianos

    (Athens University of Economics and Business (formerly Athens School of Economics and Business) Athens, Greece)

  • Vassilis Droucopoulos

    (University of Athens, Athens, Greece)

Abstract

The present paper examines the behavior of profit rate differentials of the manufacturing sector of the Greek economy for the period 1963-86. Specifically, we examine the stability of profit rate differentials over time, the existence of a given hierarchy of profit rates and the effect of the business cycle on the profit rate differentials. We find a mild tendency for convergence of profit rates, a slowly changing hierarchy of profit rates and a negative relationship between profit rate differentials and business cycles.

Suggested Citation

  • Theodore P. Lianos & Vassilis Droucopoulos, 1993. "Convergence and Hierarchy of Industrial Profit Rates: The Case of Greek Manufacturing," Review of Radical Political Economics, Union for Radical Political Economics, vol. 25(2), pages 67-80, June.
  • Handle: RePEc:sae:reorpe:v:25:y:1993:i:2:p:67-80
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    Cited by:

    1. 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.
    2. Stefania Tescari & Andrea Vaona, 2014. "Regulating Rates of Return Do Gravitate in US Manufacturing!," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 377-396, July.
    3. Andrea Vaona, 2010. "On the gravitation and convergence of industry profit rates in Denmark, Finland, Italy and the US," Working Papers 02/2010, University of Verona, Department of Economics.
    4. Michaelides, Panayotis G. & Belegri-Roboli, Athena & Economakis, George & Milios, John G., 2005. "The Determinants of Investment Activity in Greece (1960-’99)," MPRA Paper 74548, University Library of Munich, Germany.
    5. repec:mes:postke:v:35:y:2012:i:1:p:113-136 is not listed on IDEAS
    6. Andrea Vaona, 2012. "Further econometric evidence on the gravitation and convergence of industrial rates of return on regulating capital," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 35(1), pages 113-136.

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