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sectors, more developed countries specialize in upstream products, contrary to the theory, while more central countries … specialize in downstream products, consistent with the theory. The assembly of final products does not explain why development is …
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Two measures of excess profit (residual income) are currently available in the literature: the standard one, of which Economic Value Added (EVA) (Stewart, 1991) is a major instantiation, and Systemic Value Added (SVA) (Magni, 2003, 2004, 2005), also named lost-capital residual income (Magni,...
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