A portfolio analysis of industrial structure

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Title: A portfolio analysis of industrial structure
Authors: Barry, Frank
Kearney, Colm
Permanent link: http://hdl.handle.net/10197/1262
Date: Mar-2003
Abstract: Industrial sectors producing income-elastic products can grow rapidly but are highly vulnerable to fluctuations in the world economy. Policymakers need to take into account this trade-off between output and employment growth over the longer term and volatility in the short to medium term. We bring the principles of portfolio theory to bear on the issue. Our analysis is applied to Irish manufacturing employment where growth has been concentrated in foreign-owned sectors such as Office and Data Processing Equipment, Pharmaceuticals and Professional Instruments. We show that, increased volatility notwithstanding, the country’s hightech FDI-driven strategy has brought the economy’s industrial portfolio closer to the mean-variance efficiency frontier.
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP03/09
Keywords: Industrial structurePortfolio analysisInvestments, Foreign--Ireland
Subject LCSH: Industrial organization (Economic theory)
Investment analysis
Other versions: http://www.ucd.ie/economics/research/papers/2003/WP03.09.pdf
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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