Journal Article
Twenty-Two Econometric Tests on the Gravitation and Convergence of Industrial Rates of Return in New Zealand and Taiwan
International Review of Applied Economics, 27(5): 597-611
Authors
Publication Date
DOI
JEL Classification
L16
L60
L19
L70
L80
L90
B51
B52
Key Words
We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with those of the past literature. Various kinds of limitations to capital mobility can hamper the tendential equalization of return rates. Focusing on those arising from different innovation capabilities across industries can pave the way to collaboration between evolutionary and radical political economics.
