The Performance of Manufacturing in the European Union in the Context of Agricultural Economics - The Agricultural Economics of the 21st Century - page 39

Table 4.1 (continued)

Sectors
considered Authors Countries Relationships New variables

Viladecans-
Marsal
( 1999 )
Necmi
( 1999 )

Developing
countries

Instrumental variables
techniques

Pieper ( 2003 ) All sectors 30 develop-

ing countries

Employment and
value added

Wells and
Thirlwall
( 2003 )

45 African
countries

Juarez and
Leobardo
( 2011 )

Mexican
regions

McCausland
and
Theodossiou
( 2012 )
Katrakilidis
et al. ( 2013 )

Greek
economy

Erixon
( 2005 )

Schumpeterian and
Keynesian
economics

Ryzhenkov
( 2009 )

Italy Verdoorn law and

the Ricardian rela-
tionship between
the employment
and returns

Capital-output ratio,
employment ratio,
relative labor com-
pensation and the
profit rate

Kosfeld and
Dreger
( 2006 )

Unified
Germany

Verdoorn and the
Okun laws

Spatial autocorrela-
tion aspects

Fase and
Winder
( 1999 )

Manufacturing
and services
sectors

Netherland Verdoorm and

Baumol laws

Employment, the rate
wage and the unit
labor cost

Verdoorn law paradox and demonstrated the preference for the dynamic relation-
ship, because of the existence of the spatial aggregation bias in the static analysis.
This review of literature about the Verdoorn law made before is summarized in
Table 4.1 , in order to better understand the following sections, namely that related
with the model built and the options for the new variables considered in the
Verdoorn equation.