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Persistence of profits in the EU: How competitive are EU member countries?
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Centre of Excellence for Science and Innovation Studies (CESIS).
Jönköping University, Jönköping International Business School, JIBS, Economics.
2016 (English)Report (Other academic)
Abstract [en]

Profits that persist above or below the norm for prolonged periods of time revile a lack of competition and imply systematic misallocation of resources. Competition, if unimpeded, should restore profits to normal levels within a relatively short time frame. The dynamics of profits can thus reveal a great deal about the competitiveness of an economy. This paper estimates the persistence of profits across the European Union (EU), which adds to our understanding of the competitiveness of 19 EU-member states. By using a sample of approximately 5,500 firms with 54,000 observations across the time period of 1995 to 2013, we find differences in the persistence of short-run profits, implying that there are differences in competitiveness across the EU. Hungary and Greece are amongst the countries with the highest profit persistence, whereas the United Kingdom exhibits among the lowest persistence of profits. Furthermore, we provide evidence that there are significant permanent rents present in EU.

Place, publisher, year, edition, pages
Örebro: Örebro University , 2016. , 24 p.
Series
Working Paper, 2016:47
Keyword [en]
persistence of profits, competition, competitiveness, European Union
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-35796OAI: oai:DiVA.org:hj-35796DiVA: diva2:1105604
Funder
Marianne and Marcus Wallenberg Foundation
Available from: 2017-06-05 Created: 2017-06-05 Last updated: 2017-06-05Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf