haku: @author McCombie, J. S. L. / yhteensä: 3
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Tekijä: | Fingleton, B. McCombie, J. S. L. |
Otsikko: | Increasing returns and economic growth: Some evidence for manufacturing from the European Union regions |
Lehti: | Oxford Economic Papers
1998 : JAN, VOL. 50:1, p. 89-105 |
Asiasana: | RETURN ON INVESTMENT ECONOMIC GROWTH MANUFACTURING EUROPEAN UNION |
Kieli: | eng |
Tiivistelmä: | This study shows that the preferred specification of the Verdoorn law exhibits strong increasing returns to scale and that there is a significant, but weak, diffusion of innovation effect. The results of the convergence analysis suggest a very rapid convergence and the question arises as to how this is to be reconciled with the findings above of substantial increasing returns and a weak effect of the diffusion of technology. The difficulty is that the hypotheses to be tested are not nested and derived from different underlying assumptions. There is a problem of equifinality, with different models producing the same results. |
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