Convergence and Hierarchy of Industrial Profit Rates: The Case of Greek Manufacturing

Theodore Lianos and Vassilis Droucopoulos
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Vassilis Droucopoulos: University of Athens, Athens, Greece

Review of Radical Political Economics, 1993, vol. 25, issue 2, 67-80

Abstract: The present paper examines the behavior of profit rate differentials of the manufacturing sector of the Greek economy for the period 1963-86. Specifically, we examine the stability of profit rate differentials over time, the existence of a given hierarchy of profit rates and the effect of the business cycle on the profit rate differentials. We find a mild tendency for convergence of profit rates, a slowly changing hierarchy of profit rates and a negative relationship between profit rate differentials and business cycles.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:25:y:1993:i:2:p:67-80

DOI: 10.1177/048661349302500204

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