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The Competitiveness of Rural County Manufacturing During a Period of Dollar Appreciation
Abstract
Some observers contend that manufacturing activity in rural areas has been more adversely affected than in urban areas by foreign competition. It is true, of course, that the economies of some rural areas have been devastated by closing of key manufacturing plants. Even if plant closings were distributed randomly among rural and urban areas, however, some rural areas (as well as some urban areas) would suffer greatly because of their "company town" character. We found little empirical support in the literature for the claim that rural areas on average suffered disproportionately from foreign competition. But we did find two studies indicating that manufacturing employment in non-metropolitan areas had fared as well or better than in metropolitan areas.
... This paper will use Augmented Dickey Fuller (ADF) Test and in case of any hesitation Kwiatkowski, Phillips, Schmidt and Shin (KPSS) test will be employed. 1 This paper does prefer ADF since it is a widely accepted unit root test among econometricians. KPSS is used as its alternative since it assumes the series is stationary under the null hypothesis while ADF assumes it nonsationary under the null. ...
... Moreover, our analysis pay more attention on longrun relationship between depended and explanatory variables. As Granger (1981) and Engle and Granger (1987) prove, the linear combination of variables having I(1) property may 1 The critical values for ADF and KPSS tests are tabulated in MacKinnon (1996) and Kwiatkowski et al. (1992). 2 According to ADF test, although the production series is non-stationary in "none" and "intercept" cases, the series is stationary in "trend & intercept" case. Therefore, we use KPSS in order to be sure if the series is non-stationary or not. ...
This paper investigates the relationship between employment and real exchange rate in Turkish apparel industry. In particular, the relationship between employment and real exchange rate is sophisticated than it seems. It is widely accepted that there exists a link between real exchange rate and employment. However, the literature on this relation is insufficient and there is no consensus on whether real exchange rate has positive or negative effect on employment. Yet, we know that the sign and magnitude of this relation depend on various conditions, which ought to be analyzed in detail. We lay out an empirical model using employment, real wage, real exchange rate and production series of Turkish apparel industry. Our results indicate that there is a positive relationship between employment and real exchange rate in the long run.
... This paper will use Augmented Dickey Fuller (ADF) Test and in case of any hesitation Kwiatkowski, Phillips, Schmidt and Shin (KPSS) test will be employed. 1 This paper does prefer ADF since it is a widely accepted unit root test among econometricians. KPSS is used as its alternative since it assumes the series is stationary under the null hypothesis while ADF assumes it nonsationary under the null. ...
... Moreover, our analysis pay more attention on longrun relationship between depended and explanatory variables. As Granger (1981) and Engle and Granger (1987) prove, the linear combination of variables having I(1) property may 1 The critical values for ADF and KPSS tests are tabulated in MacKinnon (1996) and Kwiatkowski et al. (1992). 2 According to ADF test, although the production series is non-stationary in "none" and "intercept" cases, the series is stationary in "trend & intercept" case. Therefore, we use KPSS in order to be sure if the series is non-stationary or not. ...
This paper investigates the relationship between employment and real exchange rate in Turkish apparel industry. In particular, the relationship between employment and real exchange rate is sophisticated than it seems. It is widely accepted that there exists a link between real exchange rate and employment. However, the literature on this relation is insufficient and there is no consensus on whether real exchange rate has positive or negative effect on employment. Yet, we know that the sign and magnitude of this relation depend on various conditions, which ought to be analyzed in detail. We lay out an empirical model using employment, real wage, real exchange rate and production series of Turkish apparel industry. Our results indicate that there is a positive relationship between employment and real exchange rate in the long run.
Shenandoah Valley's Quiet Business Boom May Cushion lmfiact of Avtex Closing
- Gladness
- Malcolm
Gladness, Malcolm, Shenandoah Valley's Quiet Business Boom May Cushion lmfiact of Avtex Closing,‘ Washington Post (November 7, 1988), Was ington Business Section, p. 1.