Manufacturing’s share of employment is known to follow a hump-shaped pattern as economies structurally transform. Motivated by the observation that sectoral capital intensities evolve over time, this paper examines whether such changes are important in accounting for this pattern. It does this...

Based on outward foreign direct investment (OFDI) data of Chinese manufacturing companies in the period of 2001-20142016, this paper examines the impact of capital intensity on the casual relationship between outward foreign direct investment (OFDI) and productivity. Results show that, first,...

The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show...