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Regional and sector-specific determinants of industry dynamics and the displacement effect

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  • J. M. Arauzo
  • M. ManjÛn
  • M. MartÌn
  • A. Segarra

Abstract

In this paper we analyze the regional and sector-specific determinants of industry dynamics. Concretely, we empirically tested three hypotheses (originally proposed by Shapiro and Khemani 1987) for the relationship between the entry and exit of firms in Spanish regions and sectors. The simplest one claims that entries and exits are independent. The symmetry and simultaneity hypotheses, on the other hand, take the opposite view. The symmetry hypothesis claims that barriers to entry are also barriers to exit, while the simultaneity hypothesis claims that there is a close relationship between entry and exit. Our estimates from a panel data system of equations seem to confirm the simultaneity hypothesis for Spain during the period 1980 to 1994.

Suggested Citation

  • J. M. Arauzo & M. ManjÛn & M. MartÌn & A. Segarra, "undated". "Regional and sector-specific determinants of industry dynamics and the displacement effect," Studies on the Spanish Economy 219, FEDEA.
  • Handle: RePEc:fda:fdaeee:219
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    6. Robalino, David A. & Picazo, Oscar F. & Voetberg, Albertus, 2001. "Does fiscal decentralization improve health outcomes? - evidence from a cross-country analysis," Policy Research Working Paper Series 2565, The World Bank.
    7. Ebel, Robert D. & Yilmaz, Serdar, 2002. "On the measurement and impact of fiscal decentralization," Policy Research Working Paper Series 2809, The World Bank.
    8. Wallace E. Oates, 1999. "An Essay on Fiscal Federalism," Journal of Economic Literature, American Economic Association, pages 1120-1149.
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