Manufacturing growth and financial development: evidence from OECD countries

Article Abstract:

The relationship between the growth of the financial sector and that of the manufacturing sector was investigated. A multivariate time series model that uses an alternative measure of financial depth was utilized to examine the experiences of manufacturing firms in a sample of 13 Organization for Economic Cooperation and Development countries. Empirical results showed that the GDP of the financial sector is correlated more to total factor productivity than to GDP in the manufacturing industry.

Financial Services, Finance and Insurance, Models, Financial services industry, Gross domestic product, Organization for Economic Cooperation and Development

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International trade, comparative advantage and the incidence of layoff unemployment spells

Article Abstract:

A discussion on the gains and losses to production factors is based on the Stolper-Samuelson theorem. The short-term effects of trade on layoffs in the manufacturing industries are the main focus of the study. A model is developed to measure the effects of trade shocks. The comparative advantage of layoffs is also estimated in the model. Findings show layoffs to be minimally affected by trade shocks.

Economic aspects, International trade, Layoffs, Comparative advantage (Commerce), Comparative advantage

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The missing link: technology, investment, and productivity

Article Abstract:

Variation in plant productivity patterns due mainly to plant heterogeneity were noted among more than 14,000 American manufaturing plants studied. The data, which covered the 1972-1988 period, revealed that productivity and productivity growth are influenced by plant size and industry. On the other hand, no correlation was observed between investment and productivity or productivity growth.

Management, Industrial productivity, Factory management

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