Economic RecordPub Date : 2025-07-01DOI: 10.1111/1475-4932.70001
Mikyung Yun
{"title":"The Impact of Technical Efficiency on Productivity Growth: Evidence from the Korean Pharmaceutical Industry*","authors":"Mikyung Yun","doi":"10.1111/1475-4932.70001","DOIUrl":"https://doi.org/10.1111/1475-4932.70001","url":null,"abstract":"<p>This study examines the effects of technological capability, technological spillovers, and technological gap on firm-level productivity growth in the Korean pharmaceutical industry over the period 2000-2023. Utilizing the generalized true random effects (GTRE) stochastic frontier analysis, this article estimates technical efficiency to serve as a proxy for the technological gap. The results indicate that technological divergence is the primary driver of inter-firm productivity polarization, with limited evidence of technological spillovers from frontier firms to laggards. These findings support the low technological capability hypothesis over the Schumpeterian catch-up hypothesis, which posits convergence through innovation diffusion. The study further highlights that, even at the frontier, intra-firm technological diffusion can be sluggish under conditions of rapid technological change. It underscores the importance of intra-firm diffusion, characterized by distinct mechanisms from inter-firm diffusion, as a key determinant of productivity growth alongside inter-firm technological divergence.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 S1","pages":"26-49"},"PeriodicalIF":1.1,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.70001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144681227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-06-16DOI: 10.1111/1475-4932.12879
Florian Ploeckl, Adam Baird
{"title":"Banking in the Bush","authors":"Florian Ploeckl, Adam Baird","doi":"10.1111/1475-4932.12879","DOIUrl":"https://doi.org/10.1111/1475-4932.12879","url":null,"abstract":"<p>The State Savings Bank of Victoria (SSBV) played a pivotal role as the first public bank to offer financial services, including deposit banking and agricultural loans, across rural areas in Victoria. This study investigates the spatial distribution and activities of the SSBV within rural municipalities between Federation and World War I. The SSBV's presence exhibited a nuanced interplay between population density and spatial coverage but was primarily associated with its deposit banking services. Agricultural loans demonstrated a correlation with both population patterns and agricultural suitability of each municipality, while deposit banking volumes at SSBV locations closely tracked local economic activity reflected by the revenues of corresponding local post offices. Furthermore, despite losing its post office distribution network to the newly established Commonwealth Bank in 1912, the SSBV successfully attracted additional new customers in locations where it created new full branch offices in response.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 S1","pages":"3-25"},"PeriodicalIF":1.1,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12879","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144681373","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-05-30DOI: 10.1111/1475-4932.12887
{"title":"RETRACTION: The Remnants of Race Science: UNESCO and Economic Development in the Global South, by Sebastián Gil-Riaño (Columbia University Press, New York, 2023), pp. 392","authors":"","doi":"10.1111/1475-4932.12887","DOIUrl":"https://doi.org/10.1111/1475-4932.12887","url":null,"abstract":"<p><b>RETRACTION</b>: A. Aldi and N. Hamid, “The Remnants of Race Science: UNESCO and Economic Development in the Global South, by Sebastián Gil-Riaño (Columbia University Press, New York, 2023), pp. 392,” <i>Economic Record</i> (Early View): https://doi.org/10.1111/1475-4932.12854.</p><p>The above article, published online on 9 December 2024 in Wiley Online Library (wileyonlinelibrary.com), has been retracted by agreement between the journal Editor-in-Chief, James Morley; The Economic Society of Australia; and John Wiley & Sons Australia Ltd. The retraction has been agreed due to a lack of proper peer review and failure to adhere to the journal's submission guidelines. Therefore, the article must be retracted due to the editor's loss of confidence in the validity of the content. The authors have been informed of this decision.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12887","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-05-30DOI: 10.1111/1475-4932.12885
{"title":"RETRACTION: Financial Perspectives of Economic History, Volume II: Capitalist Revolution, International Trade, Banking, Insurance, by László Vértesy (Barcelona: Gazdaságelemző Intézet – Institute for Economic Analysis, 2024), pp. 447","authors":"","doi":"10.1111/1475-4932.12885","DOIUrl":"https://doi.org/10.1111/1475-4932.12885","url":null,"abstract":"<p><b>RETRACTION</b>: Astini, A.H. Paddu, and A. Aldi, “Financial Perspectives of Economic History, Volume II: Capitalist Revolution, International Trade, Banking, Insurance, by László Vértesy (Barcelona: Gazdaságelemző Intézet – Institute for Economic Analysis, 2024), pp. 447,”<i>Economic Record</i> (Early View): https://doi.org/10.1111/1475-4932.12844.</p><p>The above article, published online on 5 November 2024 in Wiley Online Library (wileyonlinelibrary.com), has been retracted by agreement between the journal Editor-in-Chief, James Morley; The Economic Society of Australia; and John Wiley & Sons Australia Ltd. The retraction has been agreed due to a lack of proper peer review and failure to adhere to the journal's submission guidelines. Therefore, the article must be retracted due to the editor's loss of confidence in the validity of the content. The authors have been informed of this decision.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12885","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492734","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-05-30DOI: 10.1111/1475-4932.12882
{"title":"RETRACTION: The Economics of Inequality, by Robert S. Rycroft (Routledge, California, 2024), pp. vi + 450","authors":"","doi":"10.1111/1475-4932.12882","DOIUrl":"https://doi.org/10.1111/1475-4932.12882","url":null,"abstract":"<p><b>RETRACTION</b>: P.A. Azani and I.T. Abdireviane, “The Economics of Inequality, by Robert S. Rycroft (Routledge, California, 2024), pp. vi + 450,” <i>Economic Record</i> (Early View): https://doi.org/10.1111/1475-4932.12839.</p><p>The above article, published online on 21 October 2024 in Wiley Online Library (wileyonlinelibrary.com), has been retracted by agreement between the journal Editor-in-Chief, James Morley; The Economic Society of Australia; and John Wiley & Sons Australia Ltd. The retraction has been agreed due to a lack of proper peer review and failure to adhere to the journal's submission guidelines. Therefore, the article must be retracted due to the editor's loss of confidence in the validity of the content. The authors have been informed of this decision.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12882","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-05-30DOI: 10.1111/1475-4932.12886
{"title":"RETRACTION: How Sanctions Work: Iran and the Impact of Economic Warfare, by Narges Bajoghli (Eds.) (Stanford University Press, California, 2024), 214 pp.","authors":"","doi":"10.1111/1475-4932.12886","DOIUrl":"https://doi.org/10.1111/1475-4932.12886","url":null,"abstract":"<p><b>RETRACTION</b>: A. Ambo and I.T. Abdireviane, “How Sanctions Work: Iran and the Impact of Economic Warfare, by Narges Bajoghli (Eds.) (Stanford University Press, California, 2024), 214 pp.,” <i>Economic Record</i> (Early View): https://doi.org/10.1111/1475-4932.12840.</p><p>The above article, published online on 21 October 2024 in Wiley Online Library (wileyonlinelibrary.com), has been retracted by agreement between the journal Editor-in-Chief, James Morley; The Economic Society of Australia; and John Wiley & Sons Australia Ltd. The retraction has been agreed due to a lack of proper peer review and failure to adhere to the journal's submission guidelines. Therefore, the article must be retracted due to the editor's loss of confidence in the validity of the content. The authors have been informed of this decision.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12886","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492733","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-05-30DOI: 10.1111/1475-4932.12883
{"title":"RETRACTION: Economic Growth and Development in the Tropics, by Sook Rei Tan, Haejin Jang and Jacob Wood (Routledge, Abingdon, 2024), pp. 298","authors":"","doi":"10.1111/1475-4932.12883","DOIUrl":"https://doi.org/10.1111/1475-4932.12883","url":null,"abstract":"<p><b>RETRACTION</b>: R.T. Jannah and I.T. Abdireviane, “Economic Growth and Development in the Tropics, by Sook Rei Tan, Haejin Jang and Jacob Wood (Routledge, Abingdon, 2024), pp. 298,” <i>Economic Record</i> (Early View): https://doi.org/10.1111/1475-4932.12860.</p><p>The above article, published online on 29 December 2024 in Wiley Online Library (wileyonlinelibrary.com), has been retracted by agreement between the journal Editor-in-Chief, James Morley; The Economic Society of Australia; and John Wiley & Sons Australia Ltd. The retraction has been agreed due to a lack of proper peer review and failure to adhere to the journal's submission guidelines. Therefore, the article must be retracted due to the editor's loss of confidence in the validity of the content. The authors have been informed of this decision.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12883","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-05-30DOI: 10.1111/1475-4932.12884
{"title":"RETRACTION: The Theory of Inertial Inflation: The Foundation of Economic Reform in Brazil and Argentina, by Luiz Bresser Pereira and Yoshiaki Nakano (Lynne Rienner Publishers, Boulder, CO, 2023), pp. 224","authors":"","doi":"10.1111/1475-4932.12884","DOIUrl":"https://doi.org/10.1111/1475-4932.12884","url":null,"abstract":"<p><b>RETRACTION</b>: A.S. Wahyuddin, Madris, and A.I. Anwar, “The Theory of Inertial Inflation: The Foundation of Economic Reform in Brazil and Argentina, by Luiz Bresser Pereira and Yoshiaki Nakano (Lynne Rienner Publishers, Boulder, CO, 2023), pp. 224,” <i>Economic Record</i> (Early View): https://doi.org/10.1111/1475-4932.12859.</p><p>The above article, published online on 30 December 2024 in Wiley Online Library (wileyonlinelibrary.com), has been retracted by agreement between the journal Editor-in-Chief, James Morley; The Economic Society of Australia; and John Wiley & Sons Australia Ltd. The retraction has been agreed due to a lack of proper peer review and failure to adhere to the journal's submission guidelines. Therefore, the article must be retracted due to the editor's loss of confidence in the validity of the content. The authors have been informed of this decision.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12884","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2025-04-06DOI: 10.1111/1475-4932.12871
Angela Zha, Rebecca L. C. Taylor
{"title":"Learning-by-Doing when Times Are Tough: Evidence from the Great Recession","authors":"Angela Zha, Rebecca L. C. Taylor","doi":"10.1111/1475-4932.12871","DOIUrl":"https://doi.org/10.1111/1475-4932.12871","url":null,"abstract":"<p>We analyse potential macroeconomic determinants of worker learning curves by matching exogenous changes in macroeconomic conditions during the Great Recession to high-frequency data on worker productivity from supermarkets. We find evidence of a statistically significant learning curve among new cashiers. Despite finding that higher unemployment rates induce greater effort by workers in general, the learning rate is stronger for cashiers who started work during an economic upturn, while worsening macroeconomic conditions engender a shallower learning curve. Hence, weakening labour markets are not associated with stronger learning rates on average. This analysis yields important implications for firms and policy-makers in understanding worker behaviour on the job across business cycles.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 333","pages":"169-185"},"PeriodicalIF":1.1,"publicationDate":"2025-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12871","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144492566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}