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A Disaggregate Look at Deteriorating Productivity in Chile: Has There Been Structural Change?

  • Juan Rodrigo Fuentes S.
  • Gonzalo García

The recent evolution of productivity has been a puzzle for economists. After a period marked by historic growth (1987-1997), aggregate productivity stagnated (1998-2012). The analysis in this paper focuses on productivity in nine major sectors of the economy to establish tentative hypotheses to try to explain the recent behavior of productivity at the aggregate level. The evidence suggests that it is necessary to deepen the analysis of the labor market and the cost of energy as potential barriers to productivity growth.

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File URL: http://www.bcentral.cl/eng/studies/economia-chilena/2014/apr/recv17n1abr2014-pp4-36.pdf
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Article provided by Central Bank of Chile in its journal Economía Chilena.

Volume (Year): 17 (2014)
Issue (Month): 1 (April)
Pages: 04-36

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Handle: RePEc:chb:bcchec:v:17:y:2014:i:1:p:04-36
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  1. Stephen L. Parente & Edward C. Prescott, 2002. "Barriers to Riches," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661306, June.
  2. Chang-Tai Hsieh & Peter J. Klenow, 2007. "Misallocation and Manufacturing TFP in China and India," Discussion Papers 07-006, Stanford Institute for Economic Policy Research.
  3. Moses Abramovitz, 1956. "Resource and Output Trends in the United States Since 1870," NBER Books, National Bureau of Economic Research, Inc, number abra56-1, September.
  4. Perron, P. & Bai, J., 1995. "Estimating and Testing Linear Models with Multiple Structural Changes," Cahiers de recherche 9552, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  5. Juan Eduardo Coeymans, 1999. "Determinantes de la Productividad en Chile: 1961-1997," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 36(107), pages 597-637.
  6. Moses Abramovitz, 1956. "Resource and Output Trends in the United States Since 1870," NBER Chapters, in: Resource and Output Trends in the United States Since 1870, pages 1-23 National Bureau of Economic Research, Inc.
  7. Harald Beyer & Rodrigo Vergara, 2002. "Productivity and Economic Growth: The Case of Chile," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.), Economic Growth: Sources, Trends, and Cycles, edition 1, volume 6, chapter 10, pages 309-342 Central Bank of Chile.
  8. Chumacero, Romulo A. & Fuentes, J. Rodrigo, 2006. "Chilean growth dynamics," Economic Modelling, Elsevier, vol. 23(2), pages 197-214, March.
  9. Rómulo Chumacero Escudero, 2000. "Se busca una raíz unitaria: evidencia para Chile," Estudios de Economia, University of Chile, Department of Economics, vol. 27(1 Year 20), pages 55-68, June.
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