The hypotheses of profit rates gravitating around or converging towards a common value is tested using Danish, Finnish, Italian and US data. Both hypotheses are rejected for all the countries considered. This is interpreted as the result of limitations to capital mobility and of persistent differentials in the innovative performance of industries.
On the gravitation and convergence of industry profit rates in Denmark, Finland, Italy and the US. WP Series University of Verona Department of Economics (ISSN 2036-2919), 02/2010
VAONA, Andrea
2010-01-01
Abstract
The hypotheses of profit rates gravitating around or converging towards a common value is tested using Danish, Finnish, Italian and US data. Both hypotheses are rejected for all the countries considered. This is interpreted as the result of limitations to capital mobility and of persistent differentials in the innovative performance of industries.
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