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Standards and Non-Tariff Barriers in Trade – A Case Study of South Asia Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-03-12 Hamid Haroon Ur-Rashid, Muhammad Aamir Khan
SAFTA (South Asian Free Trade Area) is not a success story. Geographically connected, but highly dis-integrated, with more than 90% outward-oriented trade, this is the case of South Asia. Of course, military, and political tensions are the major obstacles. However, recent data and studies show that cumbersome procedures, ruthless application of NTMs (Non-Tariff Measures) and restrictions are the biggest
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Samuelson's last macroeconomic model: Secular stagnation and endogenous cyclical growth Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-03-10 Michaël Assous, Mauro Boianovsky, Marwil J. Dávila-Fernández
On the occasion of the centennial of his mentor Alvin Hansen, Paul Samuelson published in 1988 a modified version of his seminal 1939 multiplier-accelerator model to address aspects of Hansen's secular stagnation hypothesis. The “Keynes-Hansen-Samuelson” model (or KHS, as he called it) was built to analyse the effects of population growth on the economy's trajectory. Several changes were then made
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Exports, productivity and capital intensity: Evidence for Brazilian firms Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-28 Dieison Casagrande, Álvaro Hidalgo, Paulo Feistel
Engaging in export activities is a key factor influencing firm performance. This paper explores the export-productivity and export-capital intensity relationship using firm-level data from the Brazilian manufacturing industry over the period 2007–2014. The empirical strategy combines Propensity Score Matching (PSM) and Differences in Differences (DD) methods and explores the fact that firms enter the
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Imported Inputs, Balance of Payments and Economic Growth: a model and a test on the case of Turkey Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-27 Halime Bölükbaşı, Irfan Civcir
Several countries rely heavily on imported intermediate inputs for the manufacturing of their exported goods. Understanding the implications of this reliance on a country's growth performance is vital. To address this issue, we conducted an in-depth analysis using the multi-sectoral balance-of-payments constrained growth model with data from Turkey spanning 1970 to 2019. We used the autoregressive
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Geographical proximity and technological similarity Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-22 Eduardo A. Haddad, Inácio F. Araújo, Fernando S. Perobelli
From a time-space perspective, we assess the effects of geographical proximity on technological convergence over time identifying proximity dimensions associated with countries’ technological similarities. We compare a time series of input-output coefficients for 66 different countries extracted from the 2021 edition of OECD Inter-Country Input-Output to verify whether nearby countries are more likely
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Internationalisation and digitalisation as drivers for eco-innovation in the European Union Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-20 Madalena Vasconcelos-Garcia, Inês Carrilho-Nunes
This article analyses the influence of internationalisation and digitalisation on eco-innovation. Advanced panel data estimation techniques are employed using data from the 27 EU Member States between 2013 and 2022. The dynamic behaviour of internationalisation, more specifically Foreign Direct Investment (FDI), is tested, accounting for the endogeneity between innovation and international economic
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Increasing returns to scale and markups Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-19 Olga Shanks
I estimate aggregate and industry-specific elasticities of scale and markups for the U.S. economy over the period from 1980 to 2019 using data on publicly traded companies. I apply Olley-Pakes and Ackerberg-Caves-Frazer estimation methods and find that the aggregate elasticity of scale for the U.S. economy is 1.1 and has been rising. The elasticity of scale in turn serves as an input for calculating
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International inequality in energy use and CO2 emissions (1820-2020) Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-14 Paolo Malanima
Global inequality is made up of two components: inequality within countries and between countries. Over the last two centuries, the second component has strongly shaped global inequality. However, little is known about its evolution over time, and nothing at all about inequality in energy use and greenhouse gas (GHG) emissions. This article presents a comprehensive reconstruction of international divergence
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The impact of ICT and intangible capital accumulation on employment growth and labour income shares Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-12 Robert Stehrer
This paper investigates the impact of the accumulation of tangible capital, ICT and intangible capital assets like software and databases or R&D on employment growth and the changes in labour income shares at the country-industry level. The econometric analysis is derived from a Cobb–Douglas production function taking into account the stylised fact that the capital–output ratios are rather constant
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Promoting the circular economy in the EU: How can the recycling of e-waste be increased? Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-09 Sónia Almeida Neves, António Cardoso Marques, Inês Patrício Silva
Moving from a linear to a circular economy is crucial to reduce environmental pressure. This transition is particularly relevant in the Electrical and Electronic Equipment (EEE) industry, given that EEE has one of the fastest-growing waste streams. Recycling is one solution for dealing with the growing amounts of this e-waste. Therefore, this paper analyses the drivers and barriers to e-waste recycling
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Collective objectives, particular objectives, and structural conditions: On Pasinetti's natural economic system and the “institutional problem” Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-02-04 Ivano Cardinale
The paper builds on Pasinetti's separation between a dynamic path that provides a normative framework (the “natural economic system”) and the need to devise concrete institutions to approximate that path (the “institutional problem”). The paper argues that addressing the “institutional problem” requires theorising the role of actions within economic structures. By doing so, it proposes an approach
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Technological Innovation Promotes Industrial Upgrading: An Analytical Framework Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-01-26 Zou Tanyong
Industrial upgrading driven by technological innovation follows the LASIS process, that is, technological innovation promotes industrial gradual upgrading through the leading-in of new technologies, architectural innovation, standardization, integration innovation, and paradigm shift. At different stages of technological innovation, there are different internal mechanisms for industrial upgrading.
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Productive Structure Optimization under Macroeconomic Constraints based on Input-Output Analysis Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-01-26 Maria Markaki, Stelios Papadakis
The term productive restructuring refers to the transformation of an economic system for reaching predefined economic and social goals. The aim of this paper is to develop a methodological framework of productive restructuring, based on input-output analysis, targeting the optimization of the productive structure of an economy. The process of the productive restructuring involves: firstly, the reallocation
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Effect of the accession to the world trade organization on commercial services exports Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-01-22 Sèna Kimm Gnangnon
The literature on the trade effects of the membership in the World Trade Organization (WTO) has essentially focused on trade in goods, including goods exports. The present analysis has investigated the effect of the WTO membership on commercial services exports for 25 Article XII Members (i.e., countries that joined the WTO under Article XII of the Marrakesh Agreement establishing the WTO) over the
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Analysing evolutionary growth regimes of regional economies and transformative shocks: Proposal for a regression-based counterfactual simulation approach to local inter-industry structural change Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-01-13 Anne Margarian
Inter-industry relationships constitute growth regimes in regional evolutionary developments. The paper proposes a regression-based counterfactual simulation approach with location-level industry data in order to analyse systematically how the relationships between different industries and the growth regimes these relationships constitute differ across regions, and how these differences affect the
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Dynamics of innovation over time: Evidence from the Spanish business elite Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-01-03 José M. Ortiz-Villajos
Although Spain was not a leading country in technology, it generated numerous innovations, which must be analyzed in order to understand its particular development trajectory. This paper makes a contribution in this line by quantifying the innovation activity of the country's business elite between c. 1870 and 1970. In addition, we have sought to verify whether some of the well-known debated dynamics
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The distributional effects of labour market deregulation: Wage share and fixed-term contracts Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2024-01-03 Marco Amendola, Valerio Ciampa, Lorenzo Germani
Since the 1980s, most advanced economies have massively ‘flexibilized’ their labour markets by reducing the protection against layoffs and introducing temporary and flexible contracts. Concurrently, a well-established economic stylized fact – the stability of the wage share of income – has been challenged as empirical evidence reveals a substantial decline in labour share across numerous countries
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Endogenous growth and human capital accumulation in a data economy Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-30 Qing Chang, Mengtao Wu, Longtian Zhang
We build an endogenous growth model featuring a new mode of human capital accumulation in a data economy. Data are generated as the byproducts of economic activities and then used by consumers for human capital accumulation apart from education. Although we find similar growth patterns compared with those in the related literature, economic growth is further accelerated by the new use of data factor
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The relationship between labor market institutions and innovation in 177 European regions over the period 2000–2015 Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-29 Gaetano Perone
The main goal of this paper is to investigate the relationship between labor market institutions (LMIs) and patents in 177 NUTS-1 and NUTS-2 European regions. Fixed effects models, ordinary least squares (OLS), the generalized method of moments estimation of the fixed effects (FE-GMM), multilevel modeling (MLM), and spatial models are employed. Patents are negatively correlated with EPL and union density
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Growth, cycles, and residential investment Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-28 Marcio Santetti, Michalis Nikiforos, Rudiger von Arnim
The empirical literature on models of cyclical growth and distribution has not investigated the differential roles of residential vs. nonresidential investment. These flows are similar in that they are largely undertaken by profit-seeking corporations, but differ greatly in that residential (nonresidential) investment is a leading (lagging) indicator of the business cycle. We estimate two Structural
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Industrial dynamics in the ICT technological paradigm: The case of Portugal, 1986–2018 Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-13 Ernesto Nieto-Carrillo, Carlos Carreira, Paulino Teixeira
Following Schumpeter, several scholars have shown that development follows long-term waves. These waves are prompted by radical innovations, which, until their full potential is exhausted, spread through incremental innovations and continuous learning and imitation processes. However, the discontinuity of technological progress often goes unnoticed in current debates on productivity slowdown, declining
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Linkage, sectoral productivity, and employment spread Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-10 Sachiko Kazekami
This study demonstrates how differences in the prefectural input–output (IO) multiplier and sectoral total factor productivity (TFP) translate into aggregate income differences across prefectures within a country. Furthermore, this study investigates the job creation generated from the IO multiplier and TFP relationship and considers expenditure in the high-income group. Our results show that aggregate
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Competing for manufacturing value added: How strong is competitive cost pressure on sectoral level? Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-12 Sascha Keil
Unit labour cost plays a pivotal role in shaping the regional distribution of manufacturing value added by influencing both export dynamics and business relocation decisions. Nonetheless, cost competitiveness is often regarded as playing a minor role in strategies promoting industrial upgrading. This perception stems from the belief that high-tech manufacturing sectors compete on the basis of quality
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Luigi Pasinetti and the Making of Classical-Keynesian Political Economy Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-10 Heinrich Bortis
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Public spending and growth: A simple model Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-07 Claudio Sardoni
The major crises that hit the world economy in the last 15 years caused a growing presence of the state in the economy. Deep crises almost inevitably give rise to growing public interventions to avoid the collapse of the economic and social system. However, the demand for more state interventions does not make it less important to be concerned about the extension and quality of these interventions
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Labour income share, market power and automation: Evidence from an emerging economy Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-05 Tinu Iype Jacob, Sunil Paul
The macroeconomic implications of movements in labour income share across several economies are of serious concern. This study examines the relationship between labour income share and its key drivers: market power, capital intensity and automation. The study uses data on Indian firms from 2013 to 2021. The relationship is analysed by employing panel fixed effects and method of moments panel quantile
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Trade networks and the productivity of MENA firms in global value chains Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-28 Rym Ayadi, Giorgia Giovannetti, Enrico Marvasi, Chahir Zaki
Global Value Chain (GVC) participation is typically associated with a productivity premium, yet similar firms can benefit differently depending on the possibility for creating production linkages offered by their countries’ involvement in trade. We show that country-sector intermediate trade network centrality is also positively associated with firms’ productivity, suggesting that the connectivity
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The impact of environmental research networks on green exports: An analysis of a sample of European countries Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-02 Andrea Fabrizi, Giulio Guarini, Valentina Meliciani
This paper studies the impact of environmental research networks on green exports by providing a unique contribution to the studies on the role of collaborative innovation for international competitiveness. Specifically, we adopt the technology gap model of international trade to study the impact of green innovation and the participation in European environmental research programs on green exports
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What drives sustainable investing? Adoption determinants of sustainable investing exchange-traded funds in Europe Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-12-02 Adam Marszk, Ewa Lechman
Despite the growing interest in various topics related to sustainable (ESG) investing, some issues remain understudied, such as the determinants of their utilization at the macro level. This paper contributes to the state of knowledge two-directionally. First, it shows the development of sustainable investing exchange-traded funds (ETFs) in European countries. Second, it traces the significant determinants
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Structural Dynamics and the Wealth of Nations. Luigi Pasinetti's system of economic theory Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-28 Ivano Cardinale, James Galbraith, Roberto Scazzieri
The article presents Luigi Pasinetti's theoretical system by foregrounding (i) the multiple forms of interdependence between specialised production activities, and the representations of economic structure associated with each form of interdependence (e.g., horizontal vs. vertical); (ii) the coordination requirements imposed on interdependent activities by the need to achieve systemic goals such as
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A Sraffian model of Pasinetti's natural economic system Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-23 Takashi Yagi
Pasinetti's (1981) natural economic system is a central idea of Pasinetti's structural economic dynamics, which explains various features of a growing economy, focusing on an evolving structure of commodity prices, an evolving structure of production, and the time pass of the wage rate and the rate of profit (Pasinetti, 1981, p.128). It exhibits three core properties: first, the sum of the growth rate
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Environmental policy and the evolution of nuclear trade network: Insights from the European Union Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-22 Yeongkyun Jang, Jae-Suk Yang
This study explores the impact of environmental policies on nuclear trade between European Union (EU) countries. The primary research question revolves around understanding the reasons behind and the mechanisms through which nuclear trade relationships evolve. Our analysis uncovers a compelling connection between the degree of alignment in environmental policies among EU states and the emergence of
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Technology versus trust: Non-bank credit systems from notarized loans in Early Modern Europe to cryptolending Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-19 Luca Fantacci, Marcella Lorenzini
The application of distributed ledger technology (DLT) in the financial sector has fostered the development of new services that are frequently referred to collectively as ‘decentralized finance’, or DeFi. In the wake of these recent developments many observers and practitioners regard DLT as a major technological disruption to the financial system, possibly leading to the complete disintermediation
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Is the time ripe for helicopter money? Growth impact and financial stability risks of outright monetary transfers Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-18 Jacopo Temperini, Carlo D'Ippoliti, Lucio Gobbi
We study the effectiveness of helicopter money, once a thought experiment that is now a feasible option given new digital technologies. We consider the effects of central bank digital currencies (CBDC) from a theoretical point of view, by means of a stock-flow consistent model of a growing open economy. We compare the effectiveness of this tool with that of traditional fiscal and monetary policies
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Real exchange rate and export surge episodes: What sectors take advantage of the real exchange rate stimulus? Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-14 Gabriel Palazzo
What are the main characteristics of sectors that take advantage of the real exchange rate stimulus after a large and long-lasting devaluation? We aim to answer this question by analyzing the development of export sectors in Argentina during 2003–2008, after the crisis and large devaluation of 2002. This six-year period shows the highest number of sectors with export surge episodes from 1980 to 2015
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Do corruption, income inequality and redistribution hasten transition towards (non)renewable energy economy? Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-13 Alex O. Acheampong, Elliot Boateng, Collins Baah Annor
This study examines the impact of corruption, income inequality, and redistribution on energy consumption (renewable, nonrenewable, and total) in 166 countries. Panel data and the two-step dynamic system-generalized method of moments techniques are utilised. Our findings show that net (post-tax/transfer Gini index) and market (pre-tax/transfer Gini index) income inequality reduce total energy and renewable
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Knowledge agglomeration and public subsidies to business R&D: Evidence for Spanish firms Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-13 Alex J. Guerrero, Joost Heijs, Elena Huergo
In this paper, we study the role played by different dimensions of knowledge agglomeration as determinants of public subsidies to business R&D. For the analysis, we use firm-level information from the Spanish Panel of Technological Innovation (PITEC) and combine these data with information from other sources at the sectoral–regional level, obtaining an unbalanced panel of 28,082 observations of Spanish
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Gender equality, economic growth, and poverty in Côte d’Ivoire: A quantitative analysis Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-09 Franck M. Adoho, Barış Alpaslan
In this paper, we develop a three-period gender-based Overlapping Generations (OLG) model of economic growth for Côte d’Ivoire in which life expectancy is endogenized and the rate of change of the poverty rate is linked to the growth rate of output per capita. We then calibrate the model using the country-specific calibration data to illustrate the role of public policies in the model, and its implications
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Breaking the ties that bind: Metropolitan dependence and export growth in the poor periphery, 1950-90 Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-04 Christopher David Absell, Giovanni Federico, Antonio Tena-Junguito
Decolonisation was one of the most important institutional transformations of the twentieth century. Recent work on the effect of decolonisation on bilateral trade has suggested that trade with the ex-metropolis declined significantly after independence. Due to problems related to data quality and coverage, however, there is still no consensus on whether the reduction of colonial dependence encouraged
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The role of services in India's post-reform economic growth Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-04 Bishwanath Goldar, Pilu Chandra Das, Samiran Dutta
The services have been the driver of India's overall growth since the onset of economic reforms in the 1990s. The value-added share of services increased from 41 percent in 1990 to 53 percent in 2018. On average, the sector grew at 7.5 percent annually during 1993–2018, contributing to about half of the aggregate economic growth. Using the India KLEMS data, we examine the trends in total factor productivity
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International trade and economic growth in Croatia Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-02 Leonarda Srdelić, Marwil J. Dávila-Fernández
This article argues that Croatia’s growth over the past two decades is deeply related to the dynamics of international trade. Under the premise that what is bought and sold in global markets reflects the economy’s fundamentals, we show that the rate of growth compatible with equilibrium in the balance-of-payments, i.e. the dynamic Harrod trade multiplier, is a good predictor of the country’s actual
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Robotization and employment dynamics in German manufacturing value chains Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-11-01 Holger Graf, Hoda Mohamed
The use of industrial robotics is increasingly integrated within different production processes in manufacturing. This raises concerns about the potential impacts of automation on labor-intensive production tasks in the country of installation, but also in other economies along global value chains (GVCs). We analyze the relationship between the use of robots in Germany and the employment content of
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Estimating a Time-Varying Distribution-Led Regime Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-31 Paul Carrillo-Maldonado, Michalis Nikiforos
This paper estimates the distribution-led regime of the US economy for the period 1947–2019. We use a time varying parameter model, which allows for continuous changes in the regime over time. To the best of our knowledge this is the first paper that has attempted to do this. This innovation is important, because there is no reason to expect that the regime of the US economy (or any economy for that
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South African Manufacturing: The challenge of growth with jobs Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-31 Ciaran Driver
This paper evaluates South African manufacturing performance over 25 years. It reports the evolution of five basic variables: employment, mark-ups, exports, domestic sales, and investment, using an aggregated sample of firms from a reliable business database. The approach differs from other economic models by the complementary use of management perceptions in estimated equations.
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Long-run macroeconomic impact of climate change on total factor productivity — Evidence from emerging economies Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-29 Naveen Kumar, Dibyendu Maiti
Emerging economies (EMEs) often ignore effective mitigation strategies for persistent climate changes to prioritise growth acceleration. This paper shows that they cannot sustain their economic growth due to the adverse impact of temperature rise on total factor productivity (TFP). Using a standard growth model, it demonstrates how temperature rise and variation for growing carbon emissions reduce
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Measuring employment in global value chains based on an inter-country input-output model with multinational enterprises Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-28 Shukuan Bai, Boya Zhang, Yadong Ning
With rapid globalization, employment in global value chains (GVCs) has attracted increasing attention. Multinational enterprises (MNEs) are the major participants in GVC activities, whose employment creation through cross-border direct investment in GVCs has not been systematically characterized, leading to an underestimation of GVCs and their employment impacts. To fill this gap, this study measures
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A micro-macro-economic modelling approach to major welfare system reforms: The case of a Universal Basic Income for Scotland Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-27 Kevin Connolly, David Eiser, Ashwin Kumar, Peter G McGregor, Graeme Roy
This paper develops – and applies – a micro-macroeconomic modeling approach for assessing major welfare system reforms. With a growing interest in the value of bold welfare reforms in the light of persistent and widening inequalities, we demonstrate the value of a comprehensive analysis of both the (micro) impact upon the distribution of household incomes and wider (macro) impacts upon national income
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Energy efficiency policies in an agent-based macroeconomic model Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-24 Marco Amendola, Francesco Lamperti, Andrea Roventini, Alessandro Sapio
Energy efficiency can help facing the climate crises. Yet the energy intensity has decreased more slowly than required to achieve climate goals. Based on this premise, we build an agent-based model to study the effects of different energy efficiency policies. Policies analysed range from indirect policies – taxes, incentives, and subsidies – to direct technological policies, where a public research
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Share of manufacturing in India's GDP: Stagnant or increasing? Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-17 Bishwanath Goldar, Pilu Chandra Das
Contrary to a widely held impression that the share of manufacturing in India's GDP has long stagnated, the paper claims that it has increased significantly. Measured at the prices of different goods and services prevailing in 2004-05, and deflation applied separately with input prices as well as output prices to account for differential input price trends, the GDP share of manufacturing has increased
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When tolstoy meets leontief: luck, policies, and learning from miracles Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-12 Reda Cherif, Fuad Hasanov
We show evidence that development “miracles,” such as the Asian Miracles, may not be that rare as the distribution of cross-country long-term growth follows a Power Law. We propose a growth theory, disantangling the role of policies from luck, which is consistent with this stylized fact and predicts that high growth depends on maintaining the best possible policies while not being too unlucky. We argue
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The global network of product-embodied R&D flows: Have national boundaries really faded away? Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-10-08 Fabrizio Fusillo, Sandro Montresor, Giuseppe Vittucci Marzetti
We investigate the extent to which national boundaries still matter in the diffusion of innovation globally. By combining the World Input-Output Dataset with OECD data on Analytical Business Enterprise R&D, we built a longitudinal network of 690 nodes (23 industries in 30 countries) between 2009 and 2013, mapping product-embodied R&D flows between industries within and across countries worldwide. Our
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A stock-flow consistent model of inventories, debt financing and investment decisions Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-29 Ettore Gallo, Gustavo Pereira Serra
The paper develops a Kalecki–Steindl–Minsky stock-flow consistent (SFC) model by including inventories, as well as firm’s deposits and debt financing into the investment function. The role of investment decisions in shaping aggregate fluctuations over the business cycle is assessed by considering a model populated by five types of economic actors: workers, rentiers, firms, commercial banks and the
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Industrialization as an engine of growth in Latin America throughout a century 1913–2013 Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-22 David Forero, Antonio Tena-Junguito
For a long period of the 20th Century, industrialization was seen as the quickest and more effective path for progress and productive diversification, influencing the choice of public policies adopted by Latin American governments since the inter-war period up until the debt crisis and the lost decade of the 1980s. Using a long-term macroeconomic database for the period 1913–2013 and 11 Latin American
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Structural changes in African households: Female-headed households and Children's educational investments in an imperfect credit market in Africa Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-20 Edward Asiedu, Amin Karimu, Abdul Ganiyu Iddrisu
Female headship of households has increased significantly around the world. This paper establishes a link between gender, income, and children's educational investments in an imperfect credit market. We show using a representative household survey from Ghana that, even though there is a positive correlation between income and educational investments, there are expected and unexpected heterogeneities
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Lessons learned from poor governance: A comparison of the EU strategies for exiting the crises of 2008 and 2020 Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-11 Javier Bilbao-Ubillos
This paper analyses the EU's strategy for recovering from the economic and social consequences of the pandemic, of which the NextGenerationEU temporary stimulus package forms part. That strategy is compared to the diametrically opposite approach taken by EU institutions in the crisis of 2008. The most significant elements and economic policy references adopted in the two cases are identified. The paradigm
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More than just supply and demand: Macroeconomic shock decomposition in Croatia during and after the transition period Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-14 Patrik Barišić, Tibor Kovač, Vladimir Arčabić
This paper separates macroeconomic shocks into external and domestic aggregate demand and supply shocks in Croatia during and after the transition period using a Bayesian SVAR model. The standard decomposition into aggregate demand and supply shocks covers important information on external sources of economic fluctuations. We find that domestic shocks were a dominant source of fluctuations during the
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Assessing the impact of healthcare service risks on healthcare demand under evolving economic and social structures: An improved GLDS decision making method considering risk attitudes Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-10 Jing Jiang, Xinwang Liu, Weizhong Wang, Muhammet Deveci
Faced with backward and uneven economic conditions and an irrational and increasingly inequitable social structure, healthcare disparities are widening and the healthcare inequalities are expanding. This can lead to an increasing public demand for healthcare services, posing unprecedented risk, such as resource shortages, quality deterioration and rising healthcare costs. By identifying, managing,
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Demand-growth in support of structural change: Evidence from Nigeria's formal manufacturing sector Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-09 Christina Wolf
An emerging literature on demand-led structural transformation and structuralist macroeconomics finds that demand-growth can positively complement industrial policy and drive structural transformation but there is no firm consensus which policies can achieve a sustained virtuous circle of demand-, output- and productivity growth. Looking at evidence from manufacturing companies listed on the Nigerian
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The social value of Earth observation: A new evaluation framework for public high-tech infrastructures Struct. Change Econ. Dyn. (IF 5.059) Pub Date : 2023-09-09 Valentina Morretta, Massimo Florio, Matteo Landoni
This paper addresses the main challenges of evaluating the socio-economic impact of high-tech infrastructures, using Earth observation (EO) as an example. EO is a critical domain of the space economy, providing valuable insights into planet Earth's natural and societal aspects. As national agencies invest in high-tech infrastructures like EO, there is a growing need for evaluate their socio-economic