The objective of this study is to investigate the validity of the Kaldor-Verdoorn’s Law in explaining the long run determinants of the labor productivity growth for the industry (narrowly defined) sector for the Italian regions. Our estimation methodology consists of pooled cross-section OLS estimator and time series LIML estimator using panel data collected by CRENoS and Istat for the period 1960-2010. Our findings suggest that the law is valid for the manufacturing, implying increasing returns to scale. Labor cost growth appears to have a positive impact to productivity growth. We also considered other supply-side factors but they were rarely statistically significant. Among these, only R&D expenditures show some statistically significant impact on productivity growth.
Crescita della produttività nelle regioni italiane: un’analisi empirica sui fattori di domanda e offerta
MILLEMACI, Emanuele;OFRIA, Ferdinando
2012-01-01
Abstract
The objective of this study is to investigate the validity of the Kaldor-Verdoorn’s Law in explaining the long run determinants of the labor productivity growth for the industry (narrowly defined) sector for the Italian regions. Our estimation methodology consists of pooled cross-section OLS estimator and time series LIML estimator using panel data collected by CRENoS and Istat for the period 1960-2010. Our findings suggest that the law is valid for the manufacturing, implying increasing returns to scale. Labor cost growth appears to have a positive impact to productivity growth. We also considered other supply-side factors but they were rarely statistically significant. Among these, only R&D expenditures show some statistically significant impact on productivity growth.Pubblicazioni consigliate
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