Viability and employment estimations based on sectoral, regional and size analysis of total factor productivity: The case of Greek manufacturing enterprises

Vagionis, Nicholas; Sfakianakis, Michael

doi:10.1080/09654319708720414

Cited by 5 publications

(2 citation statements)

References 8 publications

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“…These can reveal which part of regional growth can be attributed to the expansion of capital and labour inputs and which part is owing to technical change (Moomaw, 1981;Harris, 1982;Hulten & Schwab, 1984;Beeson, 1987;Vagionis & Spence, 1994;Vagionis & Sfakianakis, 1997); (iii) to build investment and consumption functions that can be used not only for testing theories but also for the prediction of the future investment, income or consumption levels (Usher, 1980a;O'Mahony, 1993). (iv) to assess the regionally divergent effects of tax policies (Luger, 1986).…”

Section: Introductionmentioning

confidence: 98%

Constructing a Manufacturing Fixed Capital Stock Series for the Regions of Greece

Melachroinos¹,

Spence²

2000

European Planning Studies

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Although regional variation in rates of capital accumulation is considered a major component of spatially uneven industrial development, it remains largely an understudied area. The theoretical and methodological problems that surround the measurement of capital, generally, alongside the lack of necessary information about a wide range of speci c aspects, pose serious obstacles in any attempt to construct regional capital stock series. In such a context, the main aim of this paper is to make the best possible effort to construct a regional manufacturing xed capital stock series for Greece. The limited availability of information (not unusual in regional as opposed to national contexts) and the necessity of making some arbitrary, but speci ed, assumptions mean that the estimation steps have to be presented in detail to assess reliability. Four regional xed capital stock series for total manufacturing activity are generated. The results are then assessed in the context of uneven spatial development in Greece.

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Section: Introductionmentioning

confidence: 98%

Constructing a Manufacturing Fixed Capital Stock Series for the Regions of Greece

Melachroinos¹,

Spence²

2000

European Planning Studies

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“…In the field of regional science, at least, there is a proliferation of studies focused on productivity growth and the factors that affect it in a variety of regional contexts. Apart from the numerous US studies (a detailed review is offered by Gerking, 1994), mention can be made of the studies of Chen (1996) in Chinese regions, and Vagionis and Spence (1994) and Vagionis and Sfakianakis (1997) for Greece. At the same time productivity concerns are being raised more frequently in mainstream geographical thinking.…”

Section: Introductionmentioning

confidence: 99%

Capital and Labour Productivity Convergence of Manufacturing Industry in the Regions of Greece

Melachroinos¹,

Spence²

1999

Spatial Dynamics of European Integration

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractThis paper explores the process of manufacturing capital and labour productivity convergence across the regions of Greece. The starting point of the analysis is the evolution of current thinking about productivity in spatial analysis. It is suggested that the greater mobility of the factors of production within national borders is to a large extent responsible for the long-standing tendency of geographers to overlook regional productivity dynamics. Some definitional issues in the measurement of productivity precede the estimation of regional capital and labour productivity levels in Greece during the period 1984-1994. Some surprising results are generated. There are clear signs of convergence, but it is the main metropolitan area of the country that attempts to match the labour productivity levels of the other regions, while the latter strive to achieve the capital productivity levels of the capital. The examination of spatial variation in capital intensity makes clear that convergence trends are mainly the outcome of an adjustment process in response to economic crisis. A closer look at the regional incentive legislation reveals an unexpected culprit behind the trends.

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A behavioral analysis of interest rates in Euro area

Sfakianakis

2002

Managerial Finance

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Analyses the structural behaviour of money and capital market interest rates 1999‐2001 in the European Monetary Union. Finds that the positive correlations between interest rates of different time periods get stronger as the time periods get closer, derives the principal components which explain most of the variability and applies time series analysis to the model to produce forecasts which come very close to actual values. Develops a model of the Down Jones EURO STOXX financial sector index which also shows reliable forecasting power except for the Feb 2001 period when stock markets were “in turmoil”. Compares the returns for one‐month holdings of zero‐coupon European government bonds with different maturities for various return, risk and risk‐return measures; and finds that a one‐month holding of a two‐year bond is the best investment.

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Viability and employment estimations based on sectoral, regional and size analysis of total factor productivity: The case of Greek manufacturing enterprises

Cited by 5 publications

References 8 publications

Constructing a Manufacturing Fixed Capital Stock Series for the Regions of Greece

Constructing a Manufacturing Fixed Capital Stock Series for the Regions of Greece

Capital and Labour Productivity Convergence of Manufacturing Industry in the Regions of Greece

A behavioral analysis of interest rates in Euro area

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