The hypotheses of sectoral incremental rates of returns 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 only a mixed 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.
Further econometric evidence on the gravitation and convergence of industrial incremental rates of return. WP Series University of Verona Department of Economics (ISSN 2036-2919), 08/2011
VAONA, Andrea
2011-01-01
Abstract
The hypotheses of sectoral incremental rates of returns 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 only a mixed 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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