|
APPENDIX 1: Na |
tionals vs. Multinat |
.onals: summary s |
tatistics for the fir Average output |
ms in the samplea (1998) per employee (000 Us $) |
|
Belgium |
NE MNE National average_______ |
214.58 (310.02) 535.24 (1083.47) |
274.92 (262.56) 333.9 (299.92) 189.18 |
43.46 (17.49) 54.97 (15.04) _______33.27 |
|
Denmark |
NE MNE National average_______ |
323.38 (446.86) 236.72 (213.33) |
215.45 (194.23) 216.82 (124.07) 160.24 |
44.49 (9.43) 47.63 (10.23) _______40.69_______ |
|
Spain |
NE MNE National average_______ |
274.48 (872.54) 441.73 (988.09) |
238.56 (283.82) 307.12 (232.38) ____________n.a.____________ |
30.21 (10.81) 41.06 (14.03) ____________n.a.____________ |
|
Finland |
NE MNE National average_______ |
323.4 (348.34) 230.34 (223.09) |
245.19 (158.49) 246.47 (140.73) 156.71 |
42.52 (9.42) 42.61 (8.76) ________27.05 |
|
France |
NE MNE National average_______ |
496.51 (1896.10) 354.92 (519.63) |
243.44 (299.85) 271.03 (244.04) 155.86 |
41.91 (14.57) 46.23 (14.21) _______30.16 |
|
Germany |
NE MNE National average_______ |
1731.55 (4075.65) 1626.71 (2012.65) |
309.07 (201.43) 453.07 (773.92) 119.39 |
60.61 (20.04) 63.33 (20.63) ________30.94________ |
|
Italy |
NE MNE National average_______ |
213.82 (633.30) 419.75 (722.81) |
223.67 (143.20) 385.04 (454.61) 109.82 |
34.82 (9.94) 45.27 (13.54) ________19.19________ |
|
Netherlands |
NE MNE National average_______ |
2162.71 (5114.76) 1046.71 (2969.12) |
339.87 (321.39) 381.24 (297.20) 145.30 |
47.71 (12.42) 49.77 (10.77) ________25.72_______ |
|
Norway |
NE MNE National average_______ |
133.36 (231.28) 189.01 (217.94) |
157.37 (162.83) 228.79 (159.35) |
34.92 (12.97) 50.26 (13.79) |
|
Sweden |
NE MNE National average_______ |
285.98 (803.16) 408.17 (671.10) |
195.94 (144.05) 239.16 (187.39) 200.52 |
29.64 (5.57) 32.59 (5.76) _______40.26 |
|
United Kingdom |
NE National average |
529.93 (2305.81) 495.91 (1244.04) |
169.87 (213.94) 232.72 (397.37) 147.04 |
31.70 (10.43) 35.44 (12.92) 38.02 |
aStandard deviations into brackets;
bOutput is proxied by operating revenue (000 US$);
cSource: OECD STAN Database, OECD, Paris, 2001
APPENDIX 2: Description of the variables used in the estimations
|
Variable |
Description |
|
Tit |
Number of employees a |
|
wit |
Real labour costsa,b |
|
yu |
Real operating revenuea,b |
|
rit |
Real rental cost of capital r = log( 1 + it--1) t PP / P 1 it ' 1 it -1 where it =country-level nominal interest ratec and P^ industry- |
a Source: Amadeus Database, 2001.
b Deflators are industry-level (SIC 2 digits) producer price indexes. Source: OECD, STAN database, OECD, Paris, 2001.
c Source for country-level nominal interest rates: IMF, International Financial Statistics, IMF,
Washington DC, 2000.
19