{"title":"A new method of identifying key industries: a principal component analysis","authors":"Lefteris Tsoulfidis, I. Athanasiadis","doi":"10.21203/rs.3.rs-1053053/v1","DOIUrl":null,"url":null,"abstract":"This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input–output tables of the years 2002, 2007, 2012 and the most recently published input–output table of the year 2019. We observe some intertemporal switches of industries both between and within the top clusters. The findings further suggest that structural change is a slow-moving process and it takes time for some industries to move from one cluster to the other. This information may be proved important in the designation of effective economic policies by targeting key industries and also for the stability properties of the economic system.","PeriodicalId":37562,"journal":{"name":"Journal of Economic Structures","volume":"11 1","pages":"1-23"},"PeriodicalIF":0.0000,"publicationDate":"2021-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Structures","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.21203/rs.3.rs-1053053/v1","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 1
Abstract
This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input–output tables of the years 2002, 2007, 2012 and the most recently published input–output table of the year 2019. We observe some intertemporal switches of industries both between and within the top clusters. The findings further suggest that structural change is a slow-moving process and it takes time for some industries to move from one cluster to the other. This information may be proved important in the designation of effective economic policies by targeting key industries and also for the stability properties of the economic system.
期刊介绍：
The Journal of Economic Structures is a peer-reviewed international journal that publishes theoretical and empirical articles that apply to a wide range of formal analytical instruments and statistical techniques to explore the structural interdependencies among various activities immanent in the economy. We collect manuscripts dealing with broad issues, covering subjects such as technological innovations and lifestyle changes, trade and commerce, networks, ecology and development, among others, where structural understanding is essential. The journal supports communication among various related disciplines and encourages contributions from regional practitioners. The journal also welcomes proposals for special issues reflecting the trends in structural economics and other related disciplines.
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