Financial integration, productivity and capital accumulation

Understanding the mechanism through which financial globalization affects economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of economic performance: productivity (TFP) and investments. I provide empirical evidence from a sample of 93 countries observed between 1975 and 1999. The results suggest that financial integration has a positive direct effect on productivity, while it spurs capital accumulation only with some delay and indirectly, since capital follows the rise in productivity. I control for indirect effects of financial globalization through banking crises. Such episodes depress both investments and TFP, though they are triggered by financial integration only to a minor extent.

An analysis of strategic paths through the decomposition of total factor productivity: the case of Spanish savings banks

The Spanish savings banks attracted quite a considerable amount of interest within the scientific arena, especially subsequent to the disappearance of the regulatory constraints during the second decade of the 1980s. Nonetheless, a lack of research identified with respect to mainstream paths given by strategic groups, and the analysis of the total factor productivity. Therefore, on the basis of the resource-based view of the firm and cluster analysis, we make use of changes in structure and performance ratios in order to identify the strategic groups extant in the sector. We attain a threeways division, which we link with different input-output specifications defining strategic paths. Consequently, on the basis of these three dissimilar approaches we compute and decompose a Hicks-Moorsteen total factor productivity index. Obtained results put forward an interesting interpretation under a multi-strategic approach, together with the setbacks of employing cluster analysis within a complex strategic environment. Moreover, we also propose an ex-post method of analysing the outcomes of the decomposed total factor productivity index that could be merged with non-traditional techniques of forming strategic groups, such as cognitive approaches.

Industrial location at a local level: some comments about the territorial level of the analysis

This paper contributes to the existing literature on industrial location by discussing some issues regarding the territorial levels that have been used in location analysis. We analyse which could be the advantages and disadvantages of performing locational analysis at a different local levels. We use data for new manufacturing firms located at municipality, county and travel to work areas level. We show that location determinants vary according to the territorial level used in the analysis, so we conclude that the level at which we perform the investigation should be carefully selected. Keywords: industrial location, cities, agglomeration economies, count data models.

Technical innovations at the service of cheaper labour in pre-industrial Europe. The Enlightened agenda to transform the gender division of labour in silk manufacturing

In 1749, Jacques de Vaucanson patented his or tour pour tirer la soie or spindle for silk reeling. In that same year he presented his invention to the Academy of the Sciences in Paris, of which he was a member1. Jacques de Vaucanson was born in Grenoble, France, in 1709, and died in Paris in 1782. In 1741 he had been appointed inspector of silk manufactures by Louis XV. He set about reorganizing the silk industry in France, in considerable difficulty at the time due to foreign competition. Given Vaucanson’s position, his invention was intended to replace the traditional Piémontes method, and had an immediate impact upon the silk industry in France and all over Europe.

Evaluación agronómica e industrial del material vegetal de avellano en Cataluña. Estudio de nuevas aplicaciones tecnológicas de la avellana

Los frutos secos representan un peso notable en la producción final agrícola española, siendo nuestro país el segundo productor mundial de almendra (55.000 tm grano) y el cuarto de avellana (9.000 tm grano). En el caso del avellano, la superficie de España es de unas 25.000 ha (MAPA, 2000), concentrándose el 95 % de la misma en Cataluña y, más concretamente en Tarragona (18.000 ha), donde el avellano es, en diversas comarcas, una importante fuente de ingresos. Durante las últimas décadas, el sector ha estado sometido a fuertes crisis debido al descenso de precios causado, entre otros motivos, por la existencia o no de acuerdos comerciales entre la UE y Turquía sobre este fruto seco, por las oscilaciones del dólar y la competencia creciente de Turquía, que produce casi el 75 % del total mundial y cuyos costes de producción son más reducidos, por disponer de mano de obra más barata y mejores condiciones edafoclimáticas para el cultivo. Un problema adicional de la avellana española en dicho periodo, fue la poca calidad del producto obtenido, motivada por la realización inadecuada de una serie de prácticas de recogida y de postcosecha. La variedad 'Negret' es la base de la producción de avellana española para industria y, junto con la ‘Pauetet’, constituyen el tipo comercial ‘negreta’ que es el que obtiene mejor precio en el mercado nacional. Ello es debido a sus buenas características organolépticas y elevada aptitud al tostado, que constituye el punto de partida de la mayoría de aplicaciones comerciales. Por otra parte, constituye, también, la base de la producción de la Denominación de Origen ‘Avellana de Reus’. Tradicionalmente esta variedad adolece de importantes problemas de tipo agronómico (poco vigor, rebrotante, sensible a clorosis férrica, asfixia del suelo, muy virosada, etc.) y comercial (facilidad de enranciamiento, calibres pequeños, etc.), situación que ha inducido, en la última década, a la introducción de variedades foráneas (‘Tonda Giffoni’ y ‘Tonda Romana’) que en principio no presentan estos problemas. Sin embargo, la sustitución de la variedad autóctona ‘Negret’ por otras nuevas supondría la pérdida de un carácter diferencial para la producción española, que debe evaluarse con sumo cuidado.

El Real Conservatorio de Artes (1824-1850): Orígenes y gestación de la ingeniería industrial moderna

El "Conservatorio de Artes" tuvo un origen Ilustrado, emulando a su homónimo parisino, pero nació durante el absolutismo (1824), tras un frustrado intento afrancesado (1810). Absorbió al "Gabinete de Máquinas" y tuvo como primer director a López de Peñalver. Supuso un puente entre la Ilustración y la Ingeniería Industrial decimonónica, sobre todo, a partir de la institucionalización del envío de pensionados a la "École Centrale des Arts et Manufactures" parisina, con cuyo retorno consigue transformarse en "Real Instituto Industrial" (1850). Aparte destaca su proyección social, tanto en su papel de oficina de patentes como en la promoción de exposiciones industriales.

En els marges de la ciència?: Frenologia i mesmerisme en una cultura industrial, Barcelona 1842-1845

L’objectiu d’aquest treball és estudiar la popularització de la frenologia i del mesmerisme (també conegut com a magnetisme animal) a la Catalunya de mitjan segle XIX. A Catalunya el procés de popularització d’aquestes ciències va tenir el seu punt àlgid durant la primera meitat de la dècada de 1840, coincidint amb les activitats del frenòleg Marià Cubí Soler (1801-1875). El treball demostra la importància del context polític i cultural, així com la incomoditat que generaven les pràctiques de frenòlegs i magnetitzadors com a elements clau per entendre les actituds de l’elit intel•lectual catalana vers la introducció d’aquestes noves ciències.

Labor productivity in Spain: 1977-2002

This study examines the evolution of labor productivity across Spanish regions during the period from 1977 to 2002. By applying the kernel technique, we estimate the effects of the Transition process on labor productivity and its main sources. We find that Spanish regions experienced a major convergence process in labor productivity and in human capital in the 1977-1993 period. We also pinpoint the existence of a transition co-movement between labor productivity and human capital. Conversely, the dynamics of investment in physical capital seem unrelated to the transition dynamics of labor productivity. The lack of co-evolution can be addressed as one of the causes of the current slowdown in productivity. Classification-JEL: J24, N34, N940, O18, O52, R10

Empirical studies in industrial location: an assessment of their methods and results

This paper surveys recent evidence on the determinants of (national and/or foreign) industrial location. We find that the basic analytical framework has remained essentially unaltered since the early contributions of the early 1980's while, in contrast, there have been significant advances in the quality of the data and, to a lesser extent, the econometric modelling. We also identify certain determinants (neoclassical and institutional factors) that tend to provide largely consistent results across the reviewed studies. In light of this evidence, we finally suggest future lines of research.

Industrial districts, innovation and I-district

The I-district effect hypothesis establishes the existence of highly intense innovation in Marshallian industrial districts due to the presence of external localization economies. However, industrial districts are characterized by specific manufacturing specializations in such a way that this effect could be due to these dominant specializations. The objective of this research is to test whether the effect is explained by the conditions of the territory or by the industrial specialization and to provide additional evidence of the existence and causes of the highly intense innovation in industrial districts (I-district effect). The estimates for Spain of a fixed effects model interacting territory and industry suggest that the high innovative performance of industrial districts is maintained across sectors whereas the industrial specialization behaves differently depending on the type of local production system in which it is placed. The I-district effect is related to the conditions of the territory more than to the industrial specialization. The territory is a key variable in explaining the processes of innovation and should be considered a basic dimension in the design of innovation and industrial policies.

Innovation sources and productivity: a quantile regression analysis

This paper explores the effects of two main sources of innovation —intramural and external R&D— on the productivity level in a sample of 3,267 Catalan firms. The data set used is based on the official innovation survey of Catalonia which was a part of the Spanish sample of CIS4, covering the years 2002-2004. We compare empirical results by applying usual OLS and quantile regression techniques both in manufacturing and services industries. In quantile regression, results suggest different patterns at both innovation sources as we move across conditional quantiles. The elasticity of intramural R&D activities on productivity decreased when we move up the high productivity levels both in manufacturing and services sectors, while the effects of external R&D rise in high-technology industries but are more ambiguous in low-technology and services industries.

Decomposing differences in total factor productivity across firm size

This paper investigates the extent to which the gap in total factor productivity between small and large firms is due to differences in the endowment of factors determining productivity and to the returns associated with these factors. We place particular emphasis on the contribution of differences in the propensity to innovate and in the use of skilled labor across firms of different size. Empirical evidence from a representative sample of Spanish manufacturing firms corroborates that both differences in endowments and returns to innovation and skilled labor significantly contribute to the productivity gap between small and large firms. In addition, it is observed that the contribution of innovation to this gap is caused only by differences in quantity, while differences in returns have no effect; in the case of human capital, however, most of the effect can be attributed to increasing differences in returns between small and large firms.

Productivity growth and competition in Spanish manufacturing firms: What has happened in recent years?

This paper addresses the issue of the relationship between productivity and market competition. In comparison to the economies of other European countries, the Spanish economy has been growing, while productivity growth has stagnated. Here we provide empirical evidence about the relationship between productivity and market competition from Spanish manufacturing firms at firm level between 1994 and 2004. Correcting for selection bias, our study pays special attention to the patterns of productivity growth between openness and non-openness firms. When market competition increases the effect on firms operating in domestic markets is positive but when the level of competition is high incentives to invest in innovation and productivity gains disappear. The empirical relationship between competition and productivity is an inverted U-shape, where productivity growth is highest at intermediate levels of competition. The productivity growth of firms operating in international markets is higher than that of non-openness firms, but when market competition rises they moderate their productivity growth. Our empirical results suggest that the correct competition policy in the Spanish economy should remove the barriers to competition in internal markets in order to increase the incentives for manufacturing firms to invest in innovation and productivity growth.

Desenvolupament d'una xarxa de sensors i actuadors sense fils de propòsit industrial

Aquesta memòria de projecte final de carrera és un estudi i implementació bàsica de l’estat actual en quant a les tecnologies/protocols sense fils existents, en particular centrat en ZigBee sobre la plataforma CC2430 de Texas Instruments, per a una aplicació industrial amb una taxa de transferència de dades baixa, que no presenta un alt grau de complexitat, però que requereix gran versatilitat i fiabilitat.