Oulton, Nicholas 
ORCID: 0000-0002-1595-7732
(1996)
Increasing returns and externalities in UK manufacturing: myth or reality?
Journal of Industrial Economics, 44 (1).
pp. 99-113.
ISSN 0022-1821
Abstract
I apply the method of Caballero and Lyons to industry-level data for UK manufacturing. I find evidence for a positive external effect, arising from the expansion of manufacturing as a whole. But expansion at the sectoral level was found not to generate external effects. Nor was any evidence found for increasing returns which are internal to the industry: here returns appear to be constant. I argue that external effects at the level of aggregate manufacturing cannot be explained away as due to measurement error or cyclical effects. However, alternative explanations, such as economy-wide shocks, cannot be totally excluded.
| Item Type: | Article |
|---|---|
| Official URL: | https://onlinelibrary.wiley.com/journal/14676451 |
| Additional Information: | © 1996 John Wiley & Sons |
| Divisions: | Centre for Macroeconomics |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce > HF5601 Accounting |
| Date Deposited: | 03 Nov 2020 15:42 |
| Last Modified: | 12 Dec 2024 02:22 |
| URI: | http://eprints.lse.ac.uk/id/eprint/107119 |
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