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Growth in Hungary 1994-2008: The role of capital, labour, productivity and reallocation

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  • Péter Harasztosi

    ()
    (Magyar Nemzeti Bank (central bank of Hungary))

Abstract

This paper relates firm level input changes and productivity to aggregate growth of the Hungarian economy for the period 1992 to 2008. The decomposition includes manufacturing, services, agriculture and construction. Results suggest that the role of firm productivity in growth was not stable over time. It played important role in early transition and in the pre-crisis period. Inputs show an initially positive then, after 2001, decreasing contribution to growth. At the same time input reallocation shows a decreasing trend in Hungary.

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File URL: http://english.mnb.hu/Root/Dokumentumtar/ENMNB/Kiadvanyok/mnben_mnbfuzetek/WP_2011_12.pdf
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Bibliographic Info

Paper provided by Magyar Nemzeti Bank (the central bank of Hungary) in its series MNB Working Papers with number 2011/12.

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Length: 46 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:mnb:wpaper:2011/12

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Keywords: growth decomposition; productivity; reallocation; firm level data;

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  1. J. David Brown & John S. Earle, 2008. "Understanding the Contributions of Reallocation to Productivity Growth: Lessons from a Comparative Firm-Level Analysis," Upjohn Working Papers and Journal Articles 08-141, W.E. Upjohn Institute for Employment Research.
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  3. Békés, Gábor & Halpern, László & Muraközy, Balázs, 2011. "A teremtő rombolás szerepe a vállalati termelékenység alakulásában Magyarországon
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  5. Gábor Kátay & Zoltán Wolf, 2008. "Driving Factors of Growth in Hungary - a Decomposition Exercise," MNB Working Papers 2008/6, Magyar Nemzeti Bank (the central bank of Hungary).
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  7. Griliches, Zvi & Regev, Haim, 1995. "Firm productivity in Israeli industry 1979-1988," Journal of Econometrics, Elsevier, vol. 65(1), pages 175-203, January.
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  10. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  11. Massimo Del Gatto & Adriana Di Liberto & Carmelo Petraglia, 2011. "Measuring Productivity," Journal of Economic Surveys, Wiley Blackwell, vol. 25(5), pages 952-1008, December.
  12. Gabor Kertesi & Janos Kollo, 2003. "The Employment Effects of Nearly Doubling the Minimum Wage - The Case of Hungary," Budapest Working Papers on the Labour Market 0306, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  13. Szilárd Benk & Zoltán M. Jakab & Mihály András Kovács & Balázs Párkányi & Zoltán Reppa & Gábor Vadas, 2006. "The Hungarian Quarterly Projection Model (NEM)," MNB Occasional Papers 2006/60, Magyar Nemzeti Bank (the central bank of Hungary).
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