Accounting for Spanish productivity growth using sectoral data: New Evidence
AbstractIn this paper we measure, at sectoral level, the sources of Spanish productivity growth, distinguishing among the roles played by labor productivity, the degree of factor substitution and total factor productivity (Solow residual). In terms of value added, total factor productivity growth in the manufacturing sector is higher than in services (2.4% and 1.1% respectively), although the Communication Sector constitutes an exception. In terms of gross production productivity growth in both sectors is virtually the same (0.6% and 0.7% respectively) because of the relative lower weight of intermediate inputs in producing services. During the latest cyclical expansion, 1995-1999, we have observed a marked deceleration in labor productivity, associated to an increase in employment, and to a deceleration in the capital-labor ratio, while total factor productivity has remained more stable.
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Bibliographic InfoPaper provided by Banco de Espa�a in its series Banco de Espa�a Working Papers with number 0110.
Length: 37 pages
Date of creation: 2001
Date of revision:
productivity; growth rate; labour;
Find related papers by JEL classification:
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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- Ángel Estrada & David López-Salido, 2005. "Sectoral mark-up dynamics in Spain," Banco de Espaï¿½a Working Papers 0503, Banco de Espa�a.
- Ana María Iregui & Luis Fernando Melo & María Teresa Ramírez, 2006.
"Productividad Regional Y Sectorial En Colombia:Análisis Utilizando Datos De Panel,"
BORRADORES DE ECONOMIA
003387, BANCO DE LA REPÚBLICA.
- Ana María Iregui B. & Luis Fernando Melo V. & María Teresa Ramírez G., . "Productividad Regional y Sectorial en Colombia: Análisis utilizando datos de panel," Borradores de Economia 378, Banco de la Republica de Colombia.
- Ignacio Hernando & Soledad Núñez, 2004. "The contribution of ICT to economic activity: a growth accounting exercise with Spanish firm-level data," Investigaciones Economicas, Fundación SEPI, vol. 28(2), pages 315-348, May.
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