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This paper examines capital adjustment patterns using two large and largely novel data sets from the manufacturing sectors of Colombia and Mexico. The findings show that investment patterns in these countries resemble those reported for the United States to a surprising extent. Capital adjustments beyond maintenance investment occur only rarely, but large spikes account for a significant fraction of total investment. Although duration models do not provide strong evidence for the presence of substantial fixed costs, nonparametric adjustment function estimates reveal the presence of irreversibilities in investment. These irreversibilities are important for understanding aggregate investment behavior.

Econometrics --- Investments: Stocks --- Macroeconomics --- Industries: Manufacturing --- Production and Operations Management --- Investment --- Capital --- Intangible Capital --- Capacity --- Microeconomic Analyses of Economic Development --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Discrete Regression and Qualitative Choice Models --- Discrete Regressors --- Proportions --- Industry Studies: Manufacturing: General --- Price Level --- Inflation --- Deflation --- Macroeconomics: Production --- Investment & securities --- Econometrics & economic statistics --- Manufacturing industries --- Stocks --- Logit models --- Manufacturing --- Producer price indexes --- Productivity --- Financial institutions --- Econometric analysis --- Economic sectors --- Prices --- Production --- Econometric models --- Price indexes --- Industrial productivity --- Colombia

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Zonder onderwerpscode: wereldeconomie, ontwikkelingsproblematiek

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El mundo del trabajo es objeto de grandes transformaciones. Estas transformaciones causan un fuerte impacto en los mercados laborales y generan nuevos retos para sus instituciones, entre ellas, las relacionadas con la protección contra el desempleo y con la formación profesional y capacitación, que son clave para la creación de empleo pleno y productivo y el trabajo decente para todas y todos. Por una parte, la constante transformación de los mercados de trabajo y la heterogeneidad creciente de las relaciones laborales generan grandes desafíos para el diseño de instrumentos de protección contra el desempleo. Por otra parte, una adecuada cualificación de la fuerza de trabajo es un elemento clave para cualquier estrategia de desarrollo que aspire a centrar el crecimiento económico en la innovación y el conocimiento. Esto implica un gran reto para los sistemas nacionales de formación profesional y capacitación, que deben hacer frente a una diversidad creciente tanto de las demandas del sector productivo como de las personas que buscan integrarse de manera digna al mercado laboral. Mediante un análisis de las experiencias recientes de los países de América Latina y Asia en relación con los sistemas de protección contra el desempleo y la formación profesional y capacitación, así como de los retos que enfrentan para el desarrollo de estas instituciones laborales, este libro procura contribuir al debate sobre el perfeccionamiento de instituciones laborales que fomenten el desarrollo sostenible en un mundo del trabajo cambiante.

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"The empirical evidence on whether participation in export markets increases plant-level productivity has been inconclusive so far. The authors explain this inconclusiveness by drawing on Arrow's (1962) characterization of learning-by-doing, which suggests focusing on young plants and using measures of export experience rather than export participation. They find strong evidence of learning-by-exporting for young Colombian manufacturing plants between 1981 and 1991: total factor productivity increases 4-5 percent for each additional year a plant has exported, after controlling for the effect of current exports on total factor productivity. Learning-by-exporting is more important for young than for old plants and in industries that deliver a larger percentage of their exports to high-income countries. "--World Bank web site.

Exports --- Industrial productivity