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On the determinants of TFP growth: evidence from Spanish manufacturing firms

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  • Ornaghi, Carmine
  • Castiglionesi, Fabio

Abstract

This paper explores the main determinants of productivity growth. The analysis is performed using Spanish firm-level data. We define a framework where the relative magnitudes of alternative, but not exclusive, sources of technical change is simultaneously estimated. Our main finding is that almost all the advances in technology need to be embodied either in new capital goods or in human capital. Our results contradict the existence of a positive contribution of neutral technological progress in determining the aggregate TFP growth. They also leave little room for large, unpriced effects external to the firm, both at the aggregate and industry level. We find evidence of firm-specific learning by doing, short-lived and due to adoption of new processes Keywords; TFP growth, technical change, human capital, learning by doing JEL Classification: L60, O30, O33

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Paper provided by Economics Division, School of Social Sciences, University of Southampton in its series Discussion Paper Series In Economics And Econometrics with number 0912.

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Date of creation: 01 Jan 2009
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Handle: RePEc:stn:sotoec:0912

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