6533b86efe1ef96bd12cbf69

RESEARCH PRODUCT

Investment–productivity dynamics and distribution dynamics in a multisector economy: some theory and an application to Italian regions

Andrea Mario Lavezzi

subject

Economics and EconometricsDistribution dynamicbusiness.industrymedia_common.quotation_subjectDistribution (economics)Multisector economyInvestment (macroeconomics)InstabilityStructural changeEconomyUnemploymentDynamics (music)UnemploymentEconomicsProduction (economics)InvestmentSettore SECS-P/01 - Economia PoliticabusinessProductivityProductivitymedia_common

description

Abstract In this paper, we study the investment–productivity dynamics in the Framework Space, presented by Bohm and Punzo [Cycles, Growth and Structural Change, Routledge, London (2001) 47], as the distribution dynamics of the production sectors of an economy. We apply such theoretical framework to data from Italian regions to identify differences in sectoral behaviors both within and across regions. Our main findings are: sectors within a region generally follow different regime dynamics; Southern Italian regions are generally characterized by higher degrees of heterogeneity in sectoral growth behaviors and of regime instability. Also, we find support to the hypothesis of a positive relation between this type of instability and unemployment, as argued by the Neo-Austrian theory of structural dynamics.

yearjournalcountryeditionlanguage
2003-06-01Structural Change and Economic Dynamics
https://doi.org/10.1016/s0954-349x(02)00051-6