Recent Developments in Productivity and the Role of Entrepreneurship in Italy: An Industry View

Andrea Brasili () and Loredana Federico ()
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Andrea Brasili: UniCredit Group, Milan
Loredana Federico: UniCredit Group, Milan

Rivista di Politica Economica, 2008, vol. 98, issue 2, 179-214

Abstract: This paper explores the existing interplay between productivity trends across Italian industries, in the decade 1995-2005, and entrepreneurship, highlighting the urgent need for a revival in entrepreneurial capital in some industries. Initially, we consider as a measure of entrepreneurship the birth rates for different industries; this proxy proved to be a significant explanatory variable of a sector’s efficiency. We then attempt to extract a measure of managerial ability directly from the data, considering it as an unobservable and using Bayesian techniques to perform the estimation, which further reinforces the previous results.

Keywords: entrepreneurship; productivity growth; stochastic frontiers; Bayesian analysis; Gibbs sampling. (search for similar items in EconPapers)
JEL-codes: C11 L26 O43 O47 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:98:y:2008:i:2:p:179-214

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