We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with those of the past literature. Various kinds of limitations to capital mobility can hamper the tendential equalization of return rates. Focusing on those arising from different innovation capabilities across industries can pave the way to collaboration between evolutionary and radical political economics.
Twenty-two econometric tests on the gravitation and convergence of industrial rates of return in New Zealand and Taiwan - extended version, WP Series University of Verona Department of Economics (ISSN 2036-2919), 38/2012
VAONA, Andrea
2012-01-01
Abstract
We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with those of the past literature. Various kinds of limitations to capital mobility can hamper the tendential equalization of return rates. Focusing on those arising from different innovation capabilities across industries can pave the way to collaboration between evolutionary and radical political economics.
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