Suchergebnisse

In the European Union, smart specialization is an important concept in regional policy. Its primary aim is to achieve inclusive and sustainable economic growth. There is a lack of convenient region specifc measures to operationalize smart specialization startegies (S3). The purpose of the paper is to fnd "indices of smart specialization" on a regional level. We propose indices that are based on (1) the rate of industrial diversifcation, (2) revealed comparative advantage and (3) regions' overall relative specialization. In the empirical part, we analyze smart specialization in Finland using structural data provided by Statistics Finland for seventy sub-regions (LAU1) and 24 sub-industries in manufacturing. These industries are the most important for exports, productivity, and regional economic performance for a small country. The following indices are used in empirical evaluations: Herfndahl-Hirschman Index (HHI) for regional diversity, BalassaHoover Index (BHI) for revealed comparative advantage, and Region's Relative Specialization Index (RRSI) for aggregate regional specialization differences. The concept of smart specialization is related to these measures. Index analyses reveal that many growing sub-regions have similar comparative advantages. This means inter-regional synergy, and it enables opportunities for strategic cooperation between regions. To develop smart specialization strategies for Europe's regions, we need these kinds of empirical knowledge-based management tools and planning approaches.

In the European Union, smart specialization is an important concept in regional policy. Its primary aim is to achieve inclusive and sustainable economic growth. There is a lack of convenient region specifc measures to operationalize smart specialization startegies (S3). The purpose of the paper is to fnd "indices of smart specialization" on a regional level. We propose indices that are based on (1) the rate of industrial diversifcation, (2) revealed comparative advantage and (3) regions' overall relative specialization. In the empirical part, we analyze smart specialization in Finland using structural data provided by Statistics Finland for seventy sub-regions (LAU1) and 24 sub-industries in manufacturing. These industries are the most important for exports, productivity, and regional economic performance for a small country. The following indices are used in empirical evaluations: Herfndahl-Hirschman Index (HHI) for regional diversity, BalassaHoover Index (BHI) for revealed comparative advantage, and Region's Relative Specialization Index (RRSI) for aggregate regional specialization differences. The concept of smart specialization is related to these measures. Index analyses reveal that many growing sub-regions have similar comparative advantages. This means inter-regional synergy, and it enables opportunities for strategic cooperation between regions. To develop smart specialization strategies for Europe's regions, we need these kinds of empirical knowledge-based management tools and planning approaches.

The new merger guidelines, issued on June 14, 1982, by the Department of Justice, shift from using the familiar four-firm concentration ratio to the unfamiliar Herfindahl-Hirschman Index (HHI) as a measure or index of market structure. This article explains and interprets HHI, to improve its understanding by members of the antitrust bar. Successive sections: 1. define HHI as the summed, squared market shares of individual firms in the market in percentage form, with an explicit link to the dispersion or variability in the individual market shares and to the number of firms in the market, and with hypothetical examples; 2. interpret HHI as (a) a weighted average of the individual market shares, (b) the numbers equivalent, and (c) one member of a family of related structural indices; 3. give an example of the HHI calculation based on the sales stipulation in the 1975 Gypsum case; 4. discuss the theoretical and empirical bases for HHI, in comparison with other structural measures; and 5. compare CR4 (and its changes) in the 1968 Guidelines with HHI (and its changes) in the 1982 Guidelines for horizontal mergers.

The paper analyses the phenomenon of market concentration in the context of
the most popular industrial organization approaches: the structure-
conduct-performance (SCP) approach and the efficiency hypothesis (EH). The
theory of market concentration evaluation is briefly presented, followed by
an analysis of the main concentration indicators and their application in
recent empirical research. The main problem in the practical application of
the Herfindahl-Hirschman index (HHI) - the necessity to incorporate the
market shares of all the enterprises in the market - is further addressed
and the issue of calculating the minimum value of the HHI is analysed from
the theoretical point of view and by modelling hypothetical markets.

The HHI concept has been part of the merger guidelines in US American and European antitrust legislation. Criticism around the official application of the HHI has been rising recently, claiming that the HHI is an outdated tool, incapable of delivering probative value in antitrust proceedings. This thesis compares US American and European merger guidelines and assesses the actual application practices of these guidelines in official merger reviews. European cases are discussed in detail. In the second part of this thesis the option of using the HHI in the private sector to vet internationalizing opportunities are discussed.

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International audience ; This entry will provide insights into Albert Hirschman intellectual trajectory and major concepts. We will over the main steps of his academic career and his major contributions to several and multidisciplinary fields. On the issue of law and economics, the entry underlines his high preference for pragmatic institutions (voice and the political arts of participation and deliberation at different social scales) and his everlasting caution to organic institutions (exit and spontaneous market mechanisms). However, we also state that in some of his contributions, Hirschman tried to rehabilitate, in an original and balanced way, the benefit consequences of organic institutions on the issues of growth and especially development.

International audience ; This entry will provide insights into Albert Hirschman intellectual trajectory and major concepts. We will over the main steps of his academic career and his major contributions to several and multidisciplinary fields. On the issue of law and economics, the entry underlines his high preference for pragmatic institutions (voice and the political arts of participation and deliberation at different social scales) and his everlasting caution to organic institutions (exit and spontaneous market mechanisms). However, we also state that in some of his contributions, Hirschman tried to rehabilitate, in an original and balanced way, the benefit consequences of organic institutions on the issues of growth and especially development.

International audience ; This entry will provide insights into Albert Hirschman intellectual trajectory and major concepts. We will over the main steps of his academic career and his major contributions to several and multidisciplinary fields. On the issue of law and economics, the entry underlines his high preference for pragmatic institutions (voice and the political arts of participation and deliberation at different social scales) and his everlasting caution to organic institutions (exit and spontaneous market mechanisms). However, we also state that in some of his contributions, Hirschman tried to rehabilitate, in an original and balanced way, the benefit consequences of organic institutions on the issues of growth and especially development.

International audience ; This entry will provide insights into Albert Hirschman intellectual trajectory and major concepts. We will over the main steps of his academic career and his major contributions to several and multidisciplinary fields. On the issue of law and economics, the entry underlines his high preference for pragmatic institutions (voice and the political arts of participation and deliberation at different social scales) and his everlasting caution to organic institutions (exit and spontaneous market mechanisms). However, we also state that in some of his contributions, Hirschman tried to rehabilitate, in an original and balanced way, the benefit consequences of organic institutions on the issues of growth and especially development.