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1 – 10 of 137Wayne Bartholomew and John E. Peck
The economy today is characterized by the change in its structure from manufacturing to service production. In some communities, the process has been accelerated as existing firms…
Abstract
The economy today is characterized by the change in its structure from manufacturing to service production. In some communities, the process has been accelerated as existing firms choose to relocate to more economically favorable sites. The economic prospects of such communities will be determined in part by their ability to accommodate and adapt to this structural transformation. The purpose of the article is to illustrate the application of shift‐share analysis as one method by which these changes can be monitored. South Bend and Elkhart, Indiana serve as case studies.
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Anne Margarian and Christian Hundt
This study aims to elucidate the quantitative and qualitative differences in employment development between German districts. Building on ideas from competitive development and…
Abstract
Purpose
This study aims to elucidate the quantitative and qualitative differences in employment development between German districts. Building on ideas from competitive development and resource-based theory, the paper particularly seeks to explain enduring East-West differences between rural regions by two different forms of competitive advantage: cost leadership and quality differentiation.
Design/methodology/approach
This study follows a two-step empirical approach: First, an extended shift-share regression is conducted to analyze employment development in Western and Eastern German districts between 2007 and 2016. Second, the competitive share effect and other individual terms of the shift-share model are further examined in additional regressions using regional economic characteristics as exogenous variables.
Findings
The findings suggest that the above-average employment growth of the rural districts in the West is owed to the successful exploitation of experience in manufacturing that has been gathered by firms in the past 100 years or so. While their strategy is largely based on advanced and specialized resources and an innovation-driven differentiation strategy, the relatively weak employment development of Eastern rural districts might be explained by a lack of comparable long-term experiences and the related need to focus on the exploitation of basic and general resources and, accordingly, on the efficiency-based strategy of cost leadership.
Originality/value
This study offers an in-depth empirical analysis of how the competitive share effect, i.e. region-specific resources beyond industry structure, contributes to regional employment development. The analysis reveals that quantitative differences in rural employment development are closely related to qualitatively different levels of input factors and different regimes of competitiveness.
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Compares changes in the competitive position of six Dynamic Asian Economies (DAEs) – Singapore, Thailand, Malaysia, Korea, Taiwan and Hong Kong – exporting to the USA, Japan and…
Abstract
Compares changes in the competitive position of six Dynamic Asian Economies (DAEs) – Singapore, Thailand, Malaysia, Korea, Taiwan and Hong Kong – exporting to the USA, Japan and the European Union (EU) between 1983 and 1995. Dynamic shift‐share methods are applied to two digit data for the top five manufactured exports to the USA and the EU, and the top four in the case of Japan. Findings emphasise the magnitude of the structural transformation which occurred over this period as the emerging DAEs such as Malaysia and Thailand became more competitive across a broad range of manufactured goods relative to the older DAEs, while the latter endeavoured to switch into higher value‐added manufacturing and services or new markets, or to establish manufacturing facilities overseas as a substitute for exports.
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Introduction Despite large increases in the employment of women in most Western European countries, women's employment in Greece grew at a relatively low rate during the period…
Abstract
Introduction Despite large increases in the employment of women in most Western European countries, women's employment in Greece grew at a relatively low rate during the period 1971–1981. During that period, the overall increase in women's employment in the country was 4.7 per cent compared with nine per cent for men. The picture looks grimmer when absolute numbers are considered. During the above period, women's employment increased by only 40,500 positions against an increase of 205,000 for men. In view of the relatively low economic activity rates of women in Greece, the favourable changes in their attitudes towards work outside home and women's large employment gains in other countries, it is important to analyse the reasons for the deterioration of Greek women's relative position as far as their employment is concerned.
In this paper I investigate the nature of the differential in poverty by ethnicity in rural China using data from the Chinese Household Income Project in 2002. For that, I compare…
Abstract
In this paper I investigate the nature of the differential in poverty by ethnicity in rural China using data from the Chinese Household Income Project in 2002. For that, I compare observed poverty with that in a counterfactual distribution in which ethnic minorities are given a set of relevant village and household characteristics of the Han majority. In particular, I investigate the importance of the location of minorities in explaining their higher poverty levels. The ethnic poverty differential does not change after equalizing the distribution of the population by geographical region (unless we use a higher poverty line). However, it is reduced after equalizing other locational characteristics of minorities (such as them living in less developed and mountainous areas), their larger number of children, their low education, and their fewer skilled non-agriculture workers. Finally, the ethnic per capita (log) income differential is shown to be higher for higher percentiles, with an increasing role of the geographical region as the main driver of these higher differentials.
Long lease real estate funds (over £15bn in Q3 2020) have emerged as an increasingly important part of UK pension fund real estate portfolios. This paper explores the reasons for…
Abstract
Purpose
Long lease real estate funds (over £15bn in Q3 2020) have emerged as an increasingly important part of UK pension fund real estate portfolios. This paper explores the reasons for their dramatic growth, their characteristics and performance.
Design/methodology/approach
This study uses data for the period 2004–2020 collected directly from fund managers and from AREF/MSCI and empirical analysis to explore their characteristics and performance.
Findings
Pension fund de-risking and regulatory guidance have supported the dramatic growth of long lease real estate funds. Long lease real estate funds have delivered strong risk-adjusted returns relative to both balanced property funds (with shorter lease terms) and the wider property market. This relative performance has been particularly strong when wider property market performance has been weak. Long lease funds have objectives aligned with liability matching and their performance suggests they are lower risk (more bond-like) investments. In addition, our analysis highlights they are far less responsive to the wider property market than balanced funds. However, they are not significantly different from balanced property funds in terms of their short-term relationship with gilt yield movements.
Practical implications
For pension funds and other investors the paper highlights that long lease real estate funds offer a different exposure than balanced property funds. Long lease funds have objectives more closely aligned to the overall objectives for pension fund investment but are not significantly more reliable than balanced property funds in the short-term as a liability hedge. For real estate fund managers, occupiers, developers and others active in the real estate market, the paper highlights why these funds have been (and are likely to remain) attractive to investors leading to substantial demand for long lease real estate investments.
Originality/value
This is the first study to review this increasingly important part of the UK real estate fund universe.
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The purpose of this paper is to calculate the net gains or losses for the ASEAN Members 1998‐2007 in the East Asian market.
Abstract
Purpose
The purpose of this paper is to calculate the net gains or losses for the ASEAN Members 1998‐2007 in the East Asian market.
Design/methodology/approach
This paper provides a new extension to the shift‐share analysis to attribute the net shift to competing economies with a dynamic approach. This new extension is applied to analyze the competition among the ASEAN members in the East Asian market for the year from 1998‐2007.
Findings
Although in terms of market share, Indonesia and Malaysia take the lead in East Asia, the dynamic shift‐share analysis suggests that the Philippines, Thailand and Malaysia are gainers during 1998‐2007, with positive net shifts and positive competitiveness effects.
Originality/value
There are two main contributions of this paper: one is to dynamically estimate the net shifts of the economies as compared to the traditional comparative static approach; the other is to extend the shift‐share analysis to attribute the net gains or losses to competing exporters.
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Mahmoud Yasin, Jafar Alavi, Sallem Koubida and Michael H. Small
The purpose of this paper is to examine practices, realities and opportunities relevant to Moroccan tourism. In the process, the competitiveness of this vital economic sector is…
Abstract
Purpose
The purpose of this paper is to examine practices, realities and opportunities relevant to Moroccan tourism. In the process, the competitiveness of this vital economic sector is assessed. Based on this examination, relevant, benchmarking implications are identified and advanced to policy makers.
Design/methodology/approach
The shift‐share technique is utilized to analyze tourist arrivals, from different regions of the world, to Morocco, Turkey, Tunisia and Egypt. The shift‐share analysis is utilized to understand the existing competitive position of Morocco in relation to her main competitors.
Findings
The results of the shift‐share analysis revealed that Morocco has not performed as well as the rest of the competitors in the benchmark group. This was attributed, in part, to focusing on markets with less potential for growth.
Research limitations/implications
The shift‐share technique utilized in this study is a diagnostic tool. Thus, more research is needed to uncover the dynamic relationships relevant to the competitive position of Moroccan tourism.
Practical implications
The findings of this study have clear benchmarking implications to Moroccan policy makers, as they pursue a more comprehensive and systematic tourism strategy.
Originality/value
The applied research presented in this article is consistent with the increasing significance of global tourism.
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Mercedes Gumbau‐Albert and Joaquin Maudos
Using the EU‐KLEMS database for 12 countries and 16 industries, the purpose of this paper is to analyze the differences in technological capital intensity (R&D capital stock as a…
Abstract
Purpose
Using the EU‐KLEMS database for 12 countries and 16 industries, the purpose of this paper is to analyze the differences in technological capital intensity (R&D capital stock as a percentage of GVA) between industries and the evolution of inequalities between the EU‐11 and the USA, as well as between EU countries.
Design/methodology/approach
The authors use shift‐share analysis and a Theil inequality index to break down these inequalities and to quantify the importance of either a country or a specialization effect.
Findings
Results from the shift‐share analysis show that there was a technological gap in favor of the USA until the mid‐1990s linked to the greater accumulation of technological capital in most of the productive sectors considered, this being the main reason for the differences in technological innovation between the USA and the EU‐11. However, since 1995 a change in productive specialization has occurred, with a significant drop in the weight of lower technology‐intensive industries in the EU‐11 economy, as well as a significant drop in the weight of some medium technology‐intensive industries in the USA, accounting for the reduction in the technological gap between the EU and the USA. Results from the Theil index show that the differences in the productive structure of European countries explain most of their differences in technological capital intensity.
Originality/value
The study discusses the issue from the standpoint of the distribution of technological innovation across industries. The variable analyzed and constructed is R&D capital stock and not R&D expenditures. It applies a methodology (shift‐share analysis and Theil index) not commonly used to analyze technological innovation inequalities.
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Fatih Celebioglu and Thomas Brenner
The purpose of this paper is to explain the effects of innovation, specialisation, qualifications and sectoral structure on the resilience of German regions (municipal level…
Abstract
Purpose
The purpose of this paper is to explain the effects of innovation, specialisation, qualifications and sectoral structure on the resilience of German regions (municipal level) facing the Great Recession in 2008/2009.
Design/methodology/approach
To calculate the effects of various variables on the resilience of German regions against the Great Recession, the authors use quantile regressions. To measure resilience, the authors create a number of indexes representing different parts of the economy: resistance performance index, recovery performance index, shift-share resistance index, shift-share recovery index, manufacturing resistance index, manufacturing recovery index, service resistance index and service recovery index.
Findings
The results of this study confirm that locations with employment growth before the crisis and with a good industry structure show better employment dynamics during and after the crisis. The authors find evidence for positive relationship between innovativeness, qualification, the share of the service sector, specialisation and resistance. The authors obtain positive results for related variety and both resistance and recovery. The share of the manufacturing sector only shows a positive relationship with recovery.
Originality/value
The authors expand the existing literature in three aspects: First, instead of using regions as observation units, the authors conduct the analyses on the basis of municipalities and their surroundings. By doing so, the authors reduce the modifiable area unit problem because the authors do not rely on regions defined for administrative reasons. Second, the authors apply quantile regressions to detect nonlinear effects. Third, in addition to the resilience of the whole economy, the authors also study the resilience of the manufacturing and service sectors separately and examine the resilience of the local shift effect.
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