Suchergebnisse

This paper analyses structural change in the European Union (EU) over the past two decades, with the aim of providing some guidelines for the Western Balkan (WB) countries. After recalling the main theories of structural change, the paper illustrates the general trend of decline in the relative shares of manufacturing output and employment in the old and the new EU member states, pointing to distinctive features of the East European countries. It proceeds to show how structural change in the WB countries has had additional characteristics, specific to the region. The WB countries have experienced a process of extreme de-industrialization that has reduced the contribution of manufacturing too quickly, to levels which are not consistent with their relatively low level of economic development. What is necessary is a strategy of re-industrialization of the WB economies that would strengthen their export capacity and facilitate more robust economic growth.

AbstractWe analyse the role that the liberalization of temporary contracts plays in labour share in some EU countries. The empirical analysis mainly relies on the EUKLEMS database and applies a difference-in-difference approach. Our results, focused on periods of different length (1996–2007 and 1996–2013), show that legislative innovations that favour the extensive use of temporary contracts negatively affect the labour share, likely because they lower employees' average compensations. We hypothesize that these labour reforms, which lead to enduring skill deficits, thus failing to halt the erosion of the labour share of previous decades.

RésuméLes auteurs examinent les différences de productivité totale des facteurs, ou efficience, entre dix branches d'activité et quatorze pays d'Europe, sur la période 1995–2007. L'objectif est de voir, par la méthode des doubles différences, si la législation protectrice de l'emploi temporaire conditionne cette productivité. Les résultats montrent que la déréglementation de l'emploi temporaire limite les gains de productivité dans les pays d'Europe et que cette libéralisation intéresse les branches d'activité qui recourent le plus intensément au travail temporaire. En outre, les auteurs observent que cette déréglementation affecte les activités de formation et l'acquisition de qualifications spécifiques à l'entreprise.

ResumenEl objetivo principal de este artículo es determinar en qué medida la legislación de protección del empleo temporal afectó a la productividad total de los factores (TFP) en 14 países europeos y diez sectores de 1995 a 2007, mediante estimaciones de diferencias en diferencias. Según los resultados, la desreglamentación del empleo temporal afectó negativamente al crecimiento de la TFP en estas economías, así como en los sectores con mayor propensión al empleo temporal. Además, se observa que la desreglamentación del empleo temporal desalienta la formación y la adquisición de competencias específicas de la empresa, lo cual afecta a su vez a la productividad.

AbstractThis article examines national and industry‐level differences in total factor productivity (TFP), or efficiency, for 14 European countries and ten industries for the period 1995–2007. The main aim is to ascertain the extent to which employment protection legislation (EPL) for workers with temporary contracts affects TFP, based on difference‐in‐difference estimations. The results show that the deregulation of temporary employment negatively affects TFP growth in European economies and that, at industry level, this liberalization affects industries with a higher propensity to use temporary workers. Furthermore, the authors find that the deregulation of temporary employment discourages training and the acquisition of firm‐specific skills.

ABSTRACTResearch Question/IssueThe purpose of this paper is to analyze the long‐run determinants of the corporate structure of Italian firms to explain the persistent role of a long‐run tradition of civic capital that has favored interpersonal trust, fostered cooperation outside of the narrow ties of family members and limited the diffusion of family businesses managed predominantly by family members.Research Findings/InsightsWe examined a large sample of Italian listed and not listed firms and identified those that operate in current municipalities that in the past used to be independent communes. Such firms featuring experiences of civic engagement are today less likely to be owned by a family and run by family management.Theoretical/Academic ImplicationsOur findings highlight the role of institutions as drivers of corporate governance and signal that long forgotten institutions, by modifying local social capital, may interact with family social capital and have important persistent effects on current corporate governance arrangements. Therefore, significant elements of path dependency may explain current patterns of unbundling of ownership and management.Practitioner/Policy ImplicationsPersistent corporate governance structures are difficult even for policymakers to modify. Our findings suggest that political measures should favor the accumulation of social capital at the local level when aiming to change ownership and management arrangements and limit the misallocation of resources due to family management.