Capital services estimates in Portuguese industries, 1977-2003
AbstractThis paper presents capital services estimates for 26 Portuguese industries for the 1977-2003 period. The estimation procedure follows an integrated approach under which the flows of capital services are approximated as a proportion of the capital stock converted into standard efficiency units. Our findings suggest a close proximity between the evolution of capital flows and the observed fluctuations of Portuguese macroeconomic growth. TFP growth estimates based on growth accounting reveal, furthermore, a very disappointing performance of the Portuguese economy during the period under study,with an average annual rate of TFP growth of 0.8% being observed. Performance varies across industries, but the bulk of activities show very modest rates of TFP growth.
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Bibliographic InfoPaper provided by Universidade do Porto, Faculdade de Economia do Porto in its series FEP Working Papers with number 313.
Length: 39 pages
Date of creation: Feb 2009
Date of revision:
Capital services; TFP; Portugal;
Other versions of this item:
- Ester Gomes da Silva, 2010. "Capital services estimates in Portuguese industries, 1977–2003," Portuguese Economic Journal, Springer, vol. 9(1), pages 35-74, April.
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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