Changes in the Industrial Structure of GDP And Stock Indices Also with Regard to Industry 4.0

• Autorzy: Bozena Chovancova , Michaela Dorocakova , Viera Malacka
• Języki publikacji: EN

Abstrakty

EN

The second half of the 20th century brought breakthroughs in the field of science and technology, which significantly affected not only the growth of labour productivity and economic growth, but also brought changes in industrial structures and changes in share of individual industries in GDP. Even more strikingly, these changes have been reflected in the stock market, with leading companies from the field of information technology, which affect the flow and processing of information in revolutionary way. The onset of so-called internet economy at the beginning of the 1990s significantly changes also the structure of stock indices. Business services lure investors particularly into the area of financial services, which also show high degree of appreciation of the investment. New phenomenon nowadays is and expected changes in industrial structures not only in GDP, but also in the structure of stock markets will be brought by new phase of industrial revolution Industry 4.0. The aim of this paper is to quantify and analyse the current state and position of individual industries in the structure of GDP and stock indices and to outline new tendencies and to predict changes in these indicators with regards to the realization of 4th phase of industrial revolution. (original abstract)

Słowa kluczowe

EN

Industry; Industrial structure; Gross domestic product (GDP); Stock market indexes; Industry 4.0

PL

Przemysł; Struktura przemysłu; Produkt krajowy brutto (PKB); Indeks giełdowy; Przemysł 4.0

• Czasopismo: Business and Economic Horizons
• Rocznik: 2018
• Numer: vol. 14, iss. 2
• Strony: 402--414

Twórcy

autor

Bozena Chovancova

• University of Economics in Bratislava, Slovakia

autor

Michaela Dorocakova

• University of Economics in Bratislava, Slovakia

autor

Viera Malacka

• University of Economics in Bratislava, Slovakia

Bibliografia

• Altinkilic, O., & Hansen, R. S. (2009). On the information of stock recommendation revisions. Journal of Accounting and Economics, 48, 17-36
• Baumöhl, E., Lyócsa, Š., Výrost, T. (2011). Fundamental analysis [Fundamentálna analýza]. Košice. In Slovak.
• Bernstein, A., Clearwater, S., & Provost, F. (2003). The relational vector-space model and industry classification (CDeR Working Paper IS-03-02), Stern School of Business. New York University.
• Bikár, M., & Hodula, M.(2016): Stock market price indices modelling by a small scale Bayesian VAR: The Case of British FTSE and German DAX Index. Journal of Economics, 8, 737-752
• Brynjolfsson, E., & McAfee, A.(2014). The second machine age, work, progress, and prosperity in a time of brilliant technologies. London: W.W.Norton Company Ltd.
• Desmet, K., & Parente, S.L. (2012). The evolution of markets and the revolution of industry: a unified theory of growth. Journal Economic Growth, 17(3), 205-234
• Foster, J. B., & Magdoff, F. (2009). The Great Financial Crisis and consequences. New York: Monthly review Press.
• Gilchrist, A. (2016). Industry 4.0. The industrial internet of things. Berkeley, CA: Apress.
• Chan, L. K. C., Lakonishok, J., & Swaminathan, B. (2007). Industry classifications and return comovement. Financial Analysts Journal, 63(6), 56-70.
• Kadeřábková, B., & Jašová, E. (2011). Analysis of the NAIRU indicator at the sectoral level [Analýza ukazatele nairu na sektorové úrovni]. Political Economy [Politická Ekonomie]. 59(4), 508-525. In Czech.
• Laitner, J. (2000). Structural change and economic growth. Review of Economic Studies. 67(3), 545-561.
• Porter, M. E. (2008). On competition, updated and expanded edition. Boston: Harvard Business School Press.
• Roll, R. (1992). Industrial structure and the comparative behavior of international stock market indices. The Journal of Finance, 47(1), 3-41
• Sampler, J. L. (1998). Redefining industry structure for the information age. Strategic Management Journal, 19(4), 343-355
• Stiglitz, E. J. (2015). Rewriting the rules of the American economy. An agenda for growth and shared prosperity. New York: Roosevelt Institute.
• Sweezy, P. M, & Magdoff, H. (1987). Stagnation and the financial explosion. Economic history as it happened. New York: Monthy Review Press.
• Yevsikov, I. A., Korovin, K. O., & Sarygulov, A. I. (2017). Modern trends in evaluation of macroeconomic structural changes. Studies on entrepreneurship, structural change and industrial dynamics. DOI 10.1007/978-3-319-49604-7_5. Springer

Identyfikatory

DOI

10.15208/beh.2018.29