Christos Pitelis
Datos Biográficos
| ID | 999908 |
|---|---|
| NOMBRE | Christos Pitelis |
| NOMBRES | Christos |
| APELLIDO | Pitelis |
| FIRMA | PITELIS C |
| AFILIACIONES | University of Cambridge |
| ORCID | 0000-0001-9033-6357 |
| VERIFICADO | Sí |
| TOTAL DE OBRAS | 29 |
| TOTAL DE CITAS | 2118 |
| TOTAL COMO AUTOR | 27 |
| TOTAL COMO EDITOR | 2 |
| PRIMER AÑO DE PUBLICACIÓN | 1986 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2025 |
| ÍNDICE H | 6 |
A new (theory-congruent, practice-informed and sustainability-fostering) industrial strategy
Place-based public investment in regional infrastructure, the locational choice of firms and regional performance
We discuss conceptual reasons for and propose public investment in regional infrastructure as a hybrid form of a place-based regional industrial policy aiming to foster the regional economic activity of lagging regions. We present and empirically test a baseline model using data for 14 Indian regions/states over a period of 39 years. Our results show that place-based regional infrastructure investments, particularly in electricity-generating capa…
Place-based industrial and regional strategy – levelling the playing field
Over the past decade there has been renewed interest in the role of industrial strategy in enhancing innovation, productivity, and competitiveness within and across firms, sectors and regions with an eye to fostering more balanced regional economic growth. This special issue explores how policymakers could adopt place-based industrial policy measures to foster regional catch up and a more balanced and cohesive regional growth. In doing so, the pa…
Can industrial policy foster innovation in renewable energy technologies in the OECD and in EU regions
We cross-fertilise scholarship on industrial policy (IP) and renewable energy (RE) innovation, and submit that RE serves as a general purpose technology that contains more specific RE technologies (RETs). We develop five hypotheses and provide econometric evidence for the impact of demand-pull, technology-push and systemic IP instruments on different RETs. Using a large dataset on RET innovation and policy instruments across 34 OECD countries, we…
Strategic management and regional industrial strategy
This study critically revisits extant perspectives and theories on strategic management (SM) and regional industrial strategy (RIS) and considers the scope for cross-fertilization to mutual advantage. Despite an extensive literature on value capture/creation and co-creation strategies in SM, few attempts have explored their relevance to building, and capturing value from, advantages at the regional level. Advocates of place-based approaches to RI…
A place-based developmental regional industrial strategy for sustainable capture of co-created value
This paper critically assesses recent place-based approaches to industrial and regional policy epitomised in the EU's 2020 'smart specialisation' programme. It suggests that these are a move in the right direction in so far as they acknowledge 'place' as a key, constituent part of policy making. Drawing upon examples from across the world, we emphasise the importance of regions pursuing strategies that allow them to capture -in a sustainable way …
The impact of multinational and domestic enterprises on regional productivity
The paper explores the respective effects of multinational enterprises (MNEs) and domestic enterprises (DOMEs) on regional productivity in the case of UK regions. The empirical evidence shows that the more intensive in terms of research and development and intangibles, MNEs have a stronger effect on regional productivity than DOMEs. However, when one controls for the origin of the MNEs, it is found that DOMEs can outperform MNEs from certain coun…
Rejuvenating 'Old Europe
We draw on the theory and practice of international competitiveness and developmental industrial policy (DIP), in order to propose a strategy for reindustrialisation and sustainable European international competitiveness. We suggest that European policy-makers should take stock of shifts in the global landscape and leverage ideas from business strategy to build sustainable competitive advantage, but in a way that also fosters system-wide economic…
On Piigs, Gaffs, And BRICs
We discuss structural and institutional underpinnings of the Greek ‘Debt’ Crisis. We suggest that the Greece's de facto catching-up competitiveness model was misguided, short-term focused, and eventually doomed. Alongside this ‘model’ were behaviours and attitudes that assisted the realisation of an anticipated collapse. Our assessment also accounts for other actors, at the European and wider levels, both public and private. It takes into account…
On the political economy of the state, the public-private nexus and industrial policy
We discuss political economy foundations of industrial policy (IP), with an eye to unearthing its nature, objectives, scope, constraints, limitations and possible new directions. We suggest that extant conceptual economic foundations of IP involve an underconceptualised theory of the state and the public-private nexus. We aim to address this limitation, propose the concept of ‘national economic strategy’, and try to embed IP in its context. In so…
Globalization, Development, and History in the Work of Edith Penrose
Edith Penrose's work on the multinational enterprise and the political economy of globalization and development is assessed as it relates to her views on business history. This essay was written on the occasion of the fiftieth anniversary of Penrose's classic 1959 book and her 1960 prize-winning paper on Hercules Powder, which was published in the Review . Penrose came close to providing a theory of “internalization,” compared foreign direct inve…
From Bust To Boom
The writing of an introduction to a Special Issue one is guest editing is one of these rare occasions, where one can relish the freedom of being relatively less ‘rigorous’ and even blatantly self-serving. I intend to do so. My excuse for the self-serving part is the existing crisis and the topic of the Special Issue—from bust to boom. First is the crisis. To start with, the theory of economic crisis has a very long and distinguished history, at l…
The Determinants of Value and Wealth Creation at the Firm, Industry, and National Levels
We aim to provide firm-level foundations to the issue of macroeconomic value and wealth creation and capture. We propose a framework for value creation by firms and aggregate it to the industry-sector-region, macroeconomic (nation-wide), and supra-national (global) levels. We discuss firm and nation-wide strategies for value capture and analyse their relationship with sustainable value and wealth creation. We construct requisite variables and tes…
Global Finance and Systemic Instability
European Industrial and Competition Policy
This article discusses alternative perspectives on competition and industrial policies (IP) in theory and in practice and critically assesses recent European IP in this context. It develops a new framework for IP that emphasises the sustainability of value creation at the firm, meso and national levels, and explores its implications for IP in general and European IP in particular. It views current EU policies as a step in the right direction, but…
Global Finance, Income Distribution and Capital Accumulation
The appreciation of the consequences of financial globalization is an important task for contemporary political economy. This paper maintains that industrial and macroeconomic instability faced by many developed and developing countries is likely to be attributed, to an extent, to changes in income distribution in favour of rentiers, financiers and other groups of financial capitalists. We elaborate on Marx's and Keynes's ideas and argue that a r…
The Nature of the Transnational Firm
1. The (Theory of the) Transnational Firm: the 1990s and Beyond Christos Pitelis and Roger Sugden 2. A Survey of Theories of International Production John Cantwell 3. A Critical Re-evaluation of Hymer's Contribution to the Theory of the Transnational Corporation Mohammad Yamin 4. Transaction Costs Theory and the Multinational Enterprise Jean-Francois Hennart 5. The Eclectic Paradigm of International Production: A Personal Perspective John H. Dunn…
On Globalisation and Governance; Some Issues
The increasing mobility of capital and the integration of production and markets through the foreign operations of multinational corporations (MNEs), notably foreign direct investment (FDI), puts to task the validity of extant economic theory on a number of important issues, not least that of governance. Sixty years ago, Polanyi (1945) drew attention to the tensions created by the commodification of money, land and labour and the inevitable react…
The Growth of the Firm
Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics, and informed the currently dominant, knowledge-based theory of the firm. This volume builds on a special issue of Contributions to Political Economy that celebrated forty years since Penrose’s classic The Theory of the G…
Productivity, Competitiveness and Convergence in the European Economy
This paper argues that international trade and foreign direct investment by transnational corporations need not automatically lead to increased competitiveness and convergence. Supply-side, notably industrial policies, may facilitate this process provided they recognise that government measures may impact differently on different groups within and between countries and that they may have different short-, medium- and long-term effects. This neces…
Effective Demand, Outward Investment and the (Theory of The) Transnational Corporation
A stract That demand‐side deficiencies can provide an inducement for outward investment by transnational corporations has never acquired much currency, despite its long history and the fact that existing theories ofter have implications supportive of it. Arguably a reason for this is that the idea has never been tested empirically. In this paper we provide the first such empirical test. First we critically survey and attempt to synthesize the mai…
On the nature of the capitalist state ∗
We assesss critically three existing economic perspectives, the neoclassical, the Austrian and the Marxist, on the question of the ‘nature of the capitalist state’. In particular we address the questions of the existence of the state, the state's ‘principal’, the principals' objectives and the growth and evolution of the state, and consider the answers provided by the three perspectives. We find all three perspectives limited, particularly in the…
Transaction Costs, Markets and Hierarchies
Journal Article Transaction Costs, Markets and Hierarchies. Get access Transaction Costs, Markets and Hierarchies. Edited by PITELIS (CHRISTOS N.) (Ed.). (Oxford and Cambridge, MA: Basil Blackwell, 1993. Pp. vi + 280. £50.00 hardback, £17.99 paperback. ISBN 0 631 18371 X, 0 631 18898 3.) Alan Bevan Alan Bevan Monopolies and Mergers Commission Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 104…
Market and Non-Market Hierarchies
On the possibility of state neutrality ∗
The mainstream neoclassical theory of the state is based on the assertion that the state in market economies is neutral, in the sense of being a mere reflector of the collective will and a mechanism of conflict resolution/consensus building. Rival theories such as the ‘Marxist’, ‘Austrian’, ‘Chicago school’ and ‘public choice school’ reject this idea, without however providing and analysis of the very notion of the possibility of state neutrality…
The Nature of the Transnational Firm
1. The (Theory of the) Transnational Firm: the 1990s and Beyond Christos Pitelis and Roger Sugden 2. A Survey of Theories of International Production John Cantwell 3. A Critical Re-evaluation of Hymer's Contribution to the Theory of the Transnational Corporation Mohammad Yamin 4. Transaction Costs Theory and the Multinational Enterprise Jean-Francois Hennart 5. The Eclectic Paradigm of International Production: A Personal Perspective John H. Dunn…
Place-based industrial and regional strategy – levelling the playing field
Over the past decade there has been renewed interest in the role of industrial strategy in enhancing innovation, productivity, and competitiveness within and across firms, sectors and regions with an eye to fostering more balanced regional economic growth. This special issue explores how policymakers could adopt place-based industrial policy measures to foster regional catch up and a more balanced and cohesive regional growth. In doing so, the pa…
Strategic management and regional industrial strategy
This study critically revisits extant perspectives and theories on strategic management (SM) and regional industrial strategy (RIS) and considers the scope for cross-fertilization to mutual advantage. Despite an extensive literature on value capture/creation and co-creation strategies in SM, few attempts have explored their relevance to building, and capturing value from, advantages at the regional level. Advocates of place-based approaches to RI…
Transaction Costs, Markets and Hierarchies
Journal Article Transaction Costs, Markets and Hierarchies. Get access Transaction Costs, Markets and Hierarchies. Edited by PITELIS (CHRISTOS N.) (Ed.). (Oxford and Cambridge, MA: Basil Blackwell, 1993. Pp. vi + 280. £50.00 hardback, £17.99 paperback. ISBN 0 631 18371 X, 0 631 18898 3.) Alan Bevan Alan Bevan Monopolies and Mergers Commission Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 104…
Beyond the Nation-State
Pitelis, C. (1991). Beyond the nation-state?: The transnational firm and the nation-state. Capital & Class, 15(1), 131-152
The Determinants of Value and Wealth Creation at the Firm, Industry, and National Levels
We aim to provide firm-level foundations to the issue of macroeconomic value and wealth creation and capture. We propose a framework for value creation by firms and aggregate it to the industry-sector-region, macroeconomic (nation-wide), and supra-national (global) levels. We discuss firm and nation-wide strategies for value capture and analyse their relationship with sustainable value and wealth creation. We construct requisite variables and tes…
On Globalisation and Governance; Some Issues
The increasing mobility of capital and the integration of production and markets through the foreign operations of multinational corporations (MNEs), notably foreign direct investment (FDI), puts to task the validity of extant economic theory on a number of important issues, not least that of governance. Sixty years ago, Polanyi (1945) drew attention to the tensions created by the commodification of money, land and labour and the inevitable react…
Global Finance, Income Distribution and Capital Accumulation
The appreciation of the consequences of financial globalization is an important task for contemporary political economy. This paper maintains that industrial and macroeconomic instability faced by many developed and developing countries is likely to be attributed, to an extent, to changes in income distribution in favour of rentiers, financiers and other groups of financial capitalists. We elaborate on Marx's and Keynes's ideas and argue that a r…
Global Finance and Systemic Instability
European Industrial and Competition Policy
This article discusses alternative perspectives on competition and industrial policies (IP) in theory and in practice and critically assesses recent European IP in this context. It develops a new framework for IP that emphasises the sustainability of value creation at the firm, meso and national levels, and explores its implications for IP in general and European IP in particular. It views current EU policies as a step in the right direction, but…
Productivity, Competitiveness and Convergence in the European Economy
This paper argues that international trade and foreign direct investment by transnational corporations need not automatically lead to increased competitiveness and convergence. Supply-side, notably industrial policies, may facilitate this process provided they recognise that government measures may impact differently on different groups within and between countries and that they may have different short-, medium- and long-term effects. This neces…
Place-based public investment in regional infrastructure, the locational choice of firms and regional performance
We discuss conceptual reasons for and propose public investment in regional infrastructure as a hybrid form of a place-based regional industrial policy aiming to foster the regional economic activity of lagging regions. We present and empirically test a baseline model using data for 14 Indian regions/states over a period of 39 years. Our results show that place-based regional infrastructure investments, particularly in electricity-generating capa…
The impact of multinational and domestic enterprises on regional productivity
The paper explores the respective effects of multinational enterprises (MNEs) and domestic enterprises (DOMEs) on regional productivity in the case of UK regions. The empirical evidence shows that the more intensive in terms of research and development and intangibles, MNEs have a stronger effect on regional productivity than DOMEs. However, when one controls for the origin of the MNEs, it is found that DOMEs can outperform MNEs from certain coun…
Globalization, Development, and History in the Work of Edith Penrose
Edith Penrose's work on the multinational enterprise and the political economy of globalization and development is assessed as it relates to her views on business history. This essay was written on the occasion of the fiftieth anniversary of Penrose's classic 1959 book and her 1960 prize-winning paper on Hercules Powder, which was published in the Review . Penrose came close to providing a theory of “internalization,” compared foreign direct inve…
On Piigs, Gaffs, And BRICs
We discuss structural and institutional underpinnings of the Greek ‘Debt’ Crisis. We suggest that the Greece's de facto catching-up competitiveness model was misguided, short-term focused, and eventually doomed. Alongside this ‘model’ were behaviours and attitudes that assisted the realisation of an anticipated collapse. Our assessment also accounts for other actors, at the European and wider levels, both public and private. It takes into account…
On the political economy of the state, the public-private nexus and industrial policy
We discuss political economy foundations of industrial policy (IP), with an eye to unearthing its nature, objectives, scope, constraints, limitations and possible new directions. We suggest that extant conceptual economic foundations of IP involve an underconceptualised theory of the state and the public-private nexus. We aim to address this limitation, propose the concept of ‘national economic strategy’, and try to embed IP in its context. In so…
On the possibility of state neutrality ∗
The mainstream neoclassical theory of the state is based on the assertion that the state in market economies is neutral, in the sense of being a mere reflector of the collective will and a mechanism of conflict resolution/consensus building. Rival theories such as the ‘Marxist’, ‘Austrian’, ‘Chicago school’ and ‘public choice school’ reject this idea, without however providing and analysis of the very notion of the possibility of state neutrality…
The Pension Funds “Revolution” and the Managerialist Saving Function
Corporate Capital
Journal Article Corporate Capital: Control, Ownership, Saving and Crisis Get access Corporate Capital: Control, Ownership, Saving and Crisis. By CHRISTOS PITELIS. (Cambridge & London: Cambridge University Press, 1987. Pp. viii+ 136. £22.50, US$39.50 hardback.) Anthony Brewer Anthony Brewer University of Bristol Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 98, Issue 389, 1 March 1988, Pages …
On the possibility of state neutrality ∗
The mainstream neoclassical theory of the state is based on the assertion that the state in market economies is neutral, in the sense of being a mere reflector of the collective will and a mechanism of conflict resolution/consensus building. Rival theories such as the ‘Marxist’, ‘Austrian’, ‘Chicago school’ and ‘public choice school’ reject this idea, without however providing and analysis of the very notion of the possibility of state neutrality…
The Effects of Advertising (And) Investment on Aggregate Profits
The Relationship between advertising and industry profitability is one of the best explored in the Industrial Organization literature. Yet, we are aware of no single study that attempted to test the potential existence of such a relationship at the macroeconomic level. Given the central importance of profits in any market economy, the above asymmetric appears paradoxic and unsatisfactory. Our aim in this paper is to fill this gap in the literatur…
Beyond the Nation-State
Pitelis, C. (1991). Beyond the nation-state?: The transnational firm and the nation-state. Capital & Class, 15(1), 131-152
On the nature of the capitalist state ∗
We assesss critically three existing economic perspectives, the neoclassical, the Austrian and the Marxist, on the question of the ‘nature of the capitalist state’. In particular we address the questions of the existence of the state, the state's ‘principal’, the principals' objectives and the growth and evolution of the state, and consider the answers provided by the three perspectives. We find all three perspectives limited, particularly in the…
Transaction Costs, Markets and Hierarchies
Journal Article Transaction Costs, Markets and Hierarchies. Get access Transaction Costs, Markets and Hierarchies. Edited by PITELIS (CHRISTOS N.) (Ed.). (Oxford and Cambridge, MA: Basil Blackwell, 1993. Pp. vi + 280. £50.00 hardback, £17.99 paperback. ISBN 0 631 18371 X, 0 631 18898 3.) Alan Bevan Alan Bevan Monopolies and Mergers Commission Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 104…
Market and Non-Market Hierarchies
Effective Demand, Outward Investment and the (Theory of The) Transnational Corporation
A stract That demand‐side deficiencies can provide an inducement for outward investment by transnational corporations has never acquired much currency, despite its long history and the fact that existing theories ofter have implications supportive of it. Arguably a reason for this is that the idea has never been tested empirically. In this paper we provide the first such empirical test. First we critically survey and attempt to synthesize the mai…
Productivity, Competitiveness and Convergence in the European Economy
This paper argues that international trade and foreign direct investment by transnational corporations need not automatically lead to increased competitiveness and convergence. Supply-side, notably industrial policies, may facilitate this process provided they recognise that government measures may impact differently on different groups within and between countries and that they may have different short-, medium- and long-term effects. This neces…
The Growth of the Firm
Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics, and informed the currently dominant, knowledge-based theory of the firm. This volume builds on a special issue of Contributions to Political Economy that celebrated forty years since Penrose’s classic The Theory of the G…
The Nature of the Transnational Firm
1. The (Theory of the) Transnational Firm: the 1990s and Beyond Christos Pitelis and Roger Sugden 2. A Survey of Theories of International Production John Cantwell 3. A Critical Re-evaluation of Hymer's Contribution to the Theory of the Transnational Corporation Mohammad Yamin 4. Transaction Costs Theory and the Multinational Enterprise Jean-Francois Hennart 5. The Eclectic Paradigm of International Production: A Personal Perspective John H. Dunn…
On Globalisation and Governance; Some Issues
The increasing mobility of capital and the integration of production and markets through the foreign operations of multinational corporations (MNEs), notably foreign direct investment (FDI), puts to task the validity of extant economic theory on a number of important issues, not least that of governance. Sixty years ago, Polanyi (1945) drew attention to the tensions created by the commodification of money, land and labour and the inevitable react…
Global Finance, Income Distribution and Capital Accumulation
The appreciation of the consequences of financial globalization is an important task for contemporary political economy. This paper maintains that industrial and macroeconomic instability faced by many developed and developing countries is likely to be attributed, to an extent, to changes in income distribution in favour of rentiers, financiers and other groups of financial capitalists. We elaborate on Marx's and Keynes's ideas and argue that a r…
European Industrial and Competition Policy
This article discusses alternative perspectives on competition and industrial policies (IP) in theory and in practice and critically assesses recent European IP in this context. It develops a new framework for IP that emphasises the sustainability of value creation at the firm, meso and national levels, and explores its implications for IP in general and European IP in particular. It views current EU policies as a step in the right direction, but…
Global Finance and Systemic Instability
From Bust To Boom
The writing of an introduction to a Special Issue one is guest editing is one of these rare occasions, where one can relish the freedom of being relatively less ‘rigorous’ and even blatantly self-serving. I intend to do so. My excuse for the self-serving part is the existing crisis and the topic of the Special Issue—from bust to boom. First is the crisis. To start with, the theory of economic crisis has a very long and distinguished history, at l…
The Determinants of Value and Wealth Creation at the Firm, Industry, and National Levels
We aim to provide firm-level foundations to the issue of macroeconomic value and wealth creation and capture. We propose a framework for value creation by firms and aggregate it to the industry-sector-region, macroeconomic (nation-wide), and supra-national (global) levels. We discuss firm and nation-wide strategies for value capture and analyse their relationship with sustainable value and wealth creation. We construct requisite variables and tes…
On the political economy of the state, the public-private nexus and industrial policy
We discuss political economy foundations of industrial policy (IP), with an eye to unearthing its nature, objectives, scope, constraints, limitations and possible new directions. We suggest that extant conceptual economic foundations of IP involve an underconceptualised theory of the state and the public-private nexus. We aim to address this limitation, propose the concept of ‘national economic strategy’, and try to embed IP in its context. In so…
Globalization, Development, and History in the Work of Edith Penrose
Edith Penrose's work on the multinational enterprise and the political economy of globalization and development is assessed as it relates to her views on business history. This essay was written on the occasion of the fiftieth anniversary of Penrose's classic 1959 book and her 1960 prize-winning paper on Hercules Powder, which was published in the Review . Penrose came close to providing a theory of “internalization,” compared foreign direct inve…
On Piigs, Gaffs, And BRICs
We discuss structural and institutional underpinnings of the Greek ‘Debt’ Crisis. We suggest that the Greece's de facto catching-up competitiveness model was misguided, short-term focused, and eventually doomed. Alongside this ‘model’ were behaviours and attitudes that assisted the realisation of an anticipated collapse. Our assessment also accounts for other actors, at the European and wider levels, both public and private. It takes into account…
Rejuvenating 'Old Europe
We draw on the theory and practice of international competitiveness and developmental industrial policy (DIP), in order to propose a strategy for reindustrialisation and sustainable European international competitiveness. We suggest that European policy-makers should take stock of shifts in the global landscape and leverage ideas from business strategy to build sustainable competitive advantage, but in a way that also fosters system-wide economic…
A place-based developmental regional industrial strategy for sustainable capture of co-created value
This paper critically assesses recent place-based approaches to industrial and regional policy epitomised in the EU's 2020 'smart specialisation' programme. It suggests that these are a move in the right direction in so far as they acknowledge 'place' as a key, constituent part of policy making. Drawing upon examples from across the world, we emphasise the importance of regions pursuing strategies that allow them to capture -in a sustainable way …
The impact of multinational and domestic enterprises on regional productivity
The paper explores the respective effects of multinational enterprises (MNEs) and domestic enterprises (DOMEs) on regional productivity in the case of UK regions. The empirical evidence shows that the more intensive in terms of research and development and intangibles, MNEs have a stronger effect on regional productivity than DOMEs. However, when one controls for the origin of the MNEs, it is found that DOMEs can outperform MNEs from certain coun…
Can industrial policy foster innovation in renewable energy technologies in the OECD and in EU regions
We cross-fertilise scholarship on industrial policy (IP) and renewable energy (RE) innovation, and submit that RE serves as a general purpose technology that contains more specific RE technologies (RETs). We develop five hypotheses and provide econometric evidence for the impact of demand-pull, technology-push and systemic IP instruments on different RETs. Using a large dataset on RET innovation and policy instruments across 34 OECD countries, we…
Economics (26 obras) · Political science (19 obras) · Business (12 obras) · Politics (11 obras) · Economic system (9 obras) · Law (9 obras) · Law (9 obras) · Economic Theory and Policy (8 obras) · Industrial organization (8 obras) · Sociology (8 obras)