Further econometric evidence on the gravitation and convergence of industrial rates of return on regulating capital

Andrea Vaona

No 08/2011, Working Papers from University of Verona, Department of Economics

Abstract: The hypotheses of sectoral return rates on regulating capital either gravitating around or converging towards a common value is tested on data for various OECD countries by adopting two panel varying coefficient approaches. Our null hypotheses receive some empirical support, that turns out to be stronger once focusing on manufacturing industries only. We offer a meta-analytic framework to assess the results obtained in the present contribution and in the past literature as well. Finally we discuss implications for economic policies and future theoretical and empirical research.

Keywords: capital mobility; gravitation; convergence; return rates on regulating capital; varying coefficient estimator; panel data. (search for similar items in EconPapers)
JEL-codes: L16 L19 L60 L70 L80 L90 (search for similar items in EconPapers)
Pages: 28
Date: 2011-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Journal of Post-Keynesian Economics

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Journal Article: Further econometric evidence on the gravitation and convergence of industrial rates of return on regulating capital (2012)
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