Hafner, Kurt - In: Journal of applied economics 24 (2021) 1, pp. 277-296
were below Markowitz's efficiency frontier, and that rearranging the shares of economic activities contributes to … efficiency gains that are negatively linked to industrial diversification. Reducing output volatility, MERCOSUR countries with a … low degree of industrial diversification would average relatively high efficiency gains, while the reverse is true for …