Industrial Economics

The Machine Tool Industry in Italy

by Fabio Campanini

Estimating the Import Content of Argentine Exports

by Bernardo Diaz de Astarloa

With Paloma Anós-Casero.

Despite recent efforts toward collecting evidence of vertical specialization for developed economies, scarce work has... more Despite recent efforts toward collecting evidence of vertical specialization for developed economies, scarce work has been dedicated to developing economies and to Argentina, in particular. The key contribution of this paper is to provide comparable estimates of vertical specialization as reflected in the imported content of exports in Argentina. Drawing on the 1997 input-output matrix for Argentina, the authors estimate that the imported content of the country’s exports is about 14.5 percent of total exports, lower than for other emerging economies. They also provide estimates of imported content for more disaggregated product categories.

Efthyvoulou, G. (2012). The impact of financial stress on sectoral productivity. Economics Letters, 116(2), 240-243.

by Georgios Efthyvoulou

This paper examines the impact of financial stress on labour productivity in two broad sectors: production and market... more This paper examines the impact of financial stress on labour productivity in two broad sectors: production and market services. The results indicate that, while both sectors are affected by financial stress, the channels through which this happens differ.

SBTC, SBIT and the Supply of Human Capital

by Francesco Pastore

Co-authored with Gabriella Conti.
XIV EALE Conference, University La Sorbonne, Paris, 19-22 September 2002.

This paper aims to survey the theoretical and empirical literature on increasing wage and employment differentials in... more This paper aims to survey the theoretical and empirical literature on increasing wage and employment differentials in favour of high skill workers and against low skill workers. Much literature stresses the role of demand shifts against low skill workers, caused by skill biased technical change (SBTC) and by sector biased international trade (SBIT). Moreover, demand shifts with characteristics similar to SBIT are sometimes attributed to changes in the composition of demand for products of different skill intensity. It is shown that while SBTC tends to reduce both the employment and wages of low skill workers, SBIT tends to affect negatively (positively) wages (employment). Demand factors do not seem to be the only factor explaining increasing wage differentials. Bringing supply side factors to the fore actually helps explaining the evolution over time of wage and employment differentials by skill, but leaves unexplained cross country differences, especially those between the high wage dispersion of the US labour markets contrasted with the high EU unemployment level. Different labour market institutions could explain such differences. Much research is on-going on the employment effects of flexible versus rigid labour market institutions. On an empirical ground we show that the now traditional approach of disentangling within and between differences in wage changes is under revision, as it suffers from various shortcomings. Moreover, it ignores the supply side. Panel data analysis and different types of wage equations are the framework to consider contemporaneous demand and supply side factors, without neglecting the role of differences in labour market institutions.

A falha na articulação entre real e financeiro na economia brasileira: reflexões sobre o impacto nas firmas, competitividade e desenvolvimento tecnológico

by Elson Rodrigo Souza Santos

Co-authored Armando Dalla Costa
Preliminary and incomplete version

This work explores the relationship between the economy and financial in the Brazil. We start from the assumption that... more This work explores the relationship between the economy and financial in the Brazil. We start from the assumption that the fault is identified in the high degree of difficulty in self-financing and financing of new, small and medium firms have access to channels to obtain funds for investment. The findings suggest that the fault lies in not finding a financial structure that fits with national peculiarities and industrial policy, contributing to low competitiveness and technological development of Brazilian industry. However, throughout the 2000s, there is evidence of the construction of a new institutional arrangement through the strengthening of public credit and the cash flows, benefit from the use of financial products and own resources for financing investment projects. In parallel, indicating that large firms solved the financing problem, but the arrangement needs to be improved, be better integrated with industrial policy and reduce the financial repression of other firms.

Beyond the sectors. An analysis of economic differentiation in rural economy

by Claudio Cecchi

Attrition bias in the Capitalia panel

by Niall O'Higgins

13 Market Structure, Firm Size and Innovation in Italy: An Integrated Approach to Testing Schumpeter1

by Niall O'Higgins

Corporate Sustainability Survey 2011

by Dhiman Chowdhury

Sustainability paradox has become a debate of our time; adding to this predicament is sometimes the questionable... more Sustainability paradox has become a debate of our time; adding to this predicament is sometimes the questionable behaviors of the corporations. This detrimental demeanor is counterproductive, as it for the entity so do for our common goods. The issue of sustainability is a dilemma of our which many scholars pondered over last decades, yet despite their efforts, the message is somewhat convoluted through a plethora of conflicting strategies, definitions, mandates and regulatory measures. The obfuscation has created deviation in the discourse of “sustainability” measures without addressing systemic discord with sustainability challenges at organizational and societal level, and societal and ecological level. This survey examines presence and absence of a particular behavioral dimension in global corporations and corollary effect of it. In addition, this global survey unveils previously unknown data depicting correlation between certain behavioral dimension at workplace and other corporate level factors including profitability, innovation and market leadership. This global survey serves as the basis for further research to find a common ground that brings institutional integration to sustainability conjectures.

Wall Street to Main Street: Economic Disparity has One Common Concern

by Dhiman Chowdhury

The continued anti-corporation protests that now sprung around the world lacks contemplation of one common concern:... more The continued anti-corporation protests that now sprung around the world lacks contemplation of one common concern: the undertow that ostensibly wafts in corporations exist in our society too.  In fact, we are in part responsible. Solution to this predicament is to instigate behavioral change. The OCBS (Organizational Citizenship Behavior towards Sustainability) formulation is pragmatic and judicious to this aspect and shown promising result.

A fresh look at the development of a market economy in China

by Rigas Arvanitis

Measuring Market Conduct in the Brazilian Cement Industry: A Dynamic Econometric Investigation

by Rodrigo Zeidan

Co-authored with Marcelo Resende and published in the Review of Industrial Organization, v. 34, p. 231-244, 2009.

Indirect assessments of market conduct have become widespread in the New Empirical Industrial Organization—NEIO... more Indirect assessments of market conduct have become widespread in the New Empirical Industrial Organization—NEIO literature. Recently, Steen and Salvanes (1999, Int J Ind Organ 17:147–177) provided a flexible dynamic econometric formulation of the approach advanced by Bresnahan (1982, Econ Lett 19:87–92) and Lau (1982, Econ Lett 10:93–99). The present paper considers a similar approach applied to regional cement markets in Brazil under more favorable data availability, and attempts to address part of the concerns that usually emerge with respect to the NEIO literature. In particular, issues pertaining to structural stability and the control for the number of competing firms are addressed. The evidence clearly indicates non-negligible and distinct market power in different regions and also distinct conduct patterns in the short and long run.

Size, age and growth: an application to Spanish manufacturing firms

by Lourdes Moreno

Co-author: JC Fariñas

This paper offers empirical evidence of firm failure rates as well as the mean of the distribution of realized growth... more This paper offers empirical evidence of firm failure rates as well as the mean of the distribution of realized growth rates, distinguishing between the sample of non-failing firms and the sample of all firms, failing and non-failing. Attention is directed at identifying a set of characteristics, in particular the size and age of firms, systematically related to the patterns of firm growth and exit, using a panel of Spanish manufacturing firms. The two main contributions of the paper are the use of nonparametric techniques and the analysis of issues ignored in other studies like the regression-to-the-mean bias and the measurement of learning effects. We find evidence that failure rates and the mean growth rate of successful firms decline with size and age. When failing firms are integrated, there are no significant differences in the mean growth rate across the age and size of firms. Regression-to-the-mean does not prove to be a substantial factor behind the negative relationship between size and growth of surviving firms.

Markups, bargaining power and offshoring: an empirical assessment

by Lourdes Moreno

This paper tests the pro-competitive effect of imports on product and labour markets for Spanish manufacturing firms... more This paper tests the pro-competitive effect of imports on product and labour markets for Spanish manufacturing firms in the period 1990-2005. In doing so, it takes into account the type of imported products: final vs intermediate. Markups are estimated following the procedure suggested by Roeger (1995) and including an efficient bargaining model. The observed heterogeneity among firms is parameterized to consider additional product standardization and market concentration. The results support the Imports as Market Discipline hypothesis for importers of final goods, while firms that offshore intermediate inputs show similar markups to non-importers. Additionally, the union bargaining power is smaller the more final-goods oriented imports are and the more homogeneous is the type of goods elaborated by firms.

Firms' growth, size and age: a nonparametric approach

by Lourdes Moreno

This paper offers empirical evidence of firm failurerates as well as the mean of the distribution ofrealized growth... more This paper offers empirical evidence of firm failurerates as well as the mean of the distribution ofrealized growth rates, distinguishing between thesample of non-failing firms and the sample of allfirms, failing and non-failing. Attention is directedat identifying a set of characteristics, in particularthe size and age of firms, systematically related tothe patterns of firm growth and exit, using a panel ofSpanish manufacturing firms. The two maincontributions of the paper are the use ofnonparametric techniques and the analysis of issuesignored in other studies like theregression-to-the-mean bias and the measurement oflearning effects. We find evidence that failure ratesand the mean growth rate of successful firms declinewith size and age. When failing firms are integrated,there are no significant differences in the meangrowth rate across the age and size of firms.Regression-to-the-mean does not prove to be asubstantial factor behind the negative relationshipbetween size and growth of surviving firms.

Domestic and Foreign Price/Marginal‐cost Margins: an Application to Spanish Manufacturing Firms

by Lourdes Moreno

The authors investigate the differences in margins of export and domestic markets for Spanish manufacturing firms in... more The authors investigate the differences in margins of export and domestic markets for Spanish manufacturing firms in the period 1990 to 1997. They estimate jointly a multiproduct cost function, a variable factor share equation, and two price/marginal-cost margin equations. The results indicate that the marginal cost of production sold in export markets is slightly greater than in domestic markets. At the same time, the price/marginal-cost margins in export markets are smaller than in domestic markets. There is also strong evidence that margins are procyclical in domestic markets, but this evidence is less clear in foreign markets.

Kriz Sonrası Türkiye’de Sanayilesme ve Büyüme Iliskisi: Kaldoryen Büyüme Modeli Çerçevesinde Bir Inceleme

by Ömer Tuğsal Doruk

Ahmet Kardaşlar,Ediz Deniz Kandır ve Yusuf Can Şahintürk ile ortak çalışma, EconAnadolu Kongresi,2011,Haziran

Nicholas Kaldor who is one of the most important Post Keynesian Economic School contributors and whose thesis about... more Nicholas Kaldor who is one of the most important Post Keynesian Economic School contributors and whose thesis about industry and growth has played crucial role for growth theories and this research based on that thesis. Kaldorian growth theory also known as “engine of growth” theory why Kaldor has underlined and showed industry’s direct effect to GDP, empirically. In this research Kaldor engine of growth (KEG) is examined with various variables in monthly datas about Turkey’s industrial situation in post-crisis and after crisis era.

Agglomeration Advantages and Capability Building In Industrial Clusters: the Missing Link

by Marjolein Caniëls

Per una definizione di distretto agricolo e distretto agroindustriale

by Claudio Cecchi

Trends and Patterns of Energy Consumption in India

by Santosh Kumar Sahu

Energy has been universally recognized as one of the most important inputs for economic growth and human development.... more Energy has been universally recognized as one of the most important inputs for economic growth and human development. There is a strong two-way relationship between economic development and energy consumption. On one hand, growth of an economy, with its global competitiveness, hinges on the availability of cost-effective and environmentally benign energy sources, and on the other hand, the level of economic development has been observed to be dependent on the energy demand (EIA, 2006). Using trend analysis and regression techniques, the study finds that there is positive relationship between total primary energy consumption to GDP, population, and per capita energy consumption, however a negative relationship do exist between the energy use and the production of the energy resources in case of India. We can summarize that total primary energy use is one of the key components of the GDP. Population is an important factor for the total primary energy consumption and one of the major contributors for the demand of more energy resources. Per capita energy consumption in the economy has a positive relationship with the total energy use and hence it is one of the important factors of the total energy consumption. As evidence from the developing countries more the nation develops economically, the demand for energy resources also increases. Our findings also suggests in the same direction, as increase in GDP, Population, Per capita consumption leads to more demand of energy resources.