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The impact of financial stress on sectoral productivity

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  • Efthyvoulou, Georgios

Abstract

This paper examines the impact of financial stress on labour productivity in two broad sectors: production and market services. The results indicate that, while both sectors are affected by financial stress, the channels through which this happens differ.

Suggested Citation

  • Efthyvoulou, Georgios, 2012. "The impact of financial stress on sectoral productivity," Economics Letters, Elsevier, vol. 116(2), pages 240-243.
    • Handle: RePEc:eee:ecolet:v:116:y:2012:i:2:p:240-243
    DOI: 10.1016/j.econlet.2012.03.007
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    10. Mr. Stephan Danninger & Ms. Irina Tytell & Mr. Ravi Balakrishnan & Mr. Selim A Elekdag, 2009. "The Transmission of Financial Stress from Advanced to Emerging Economies," IMF Working Papers 2009/133, International Monetary Fund.
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    Cited by:

    1. Georgios Efthyvoulou & Priit Vahter, 2016. "Financial Constraints, Innovation Performance and Sectoral Disaggregation," Manchester School, University of Manchester, vol. 84(2), pages 125-158, March.
    2. Khazalipoor , Nasrin & Ranjbar , Homayoun, 2014. "The Impact of Financial Stress on Iran per Capita GDP over the Period 2000(3)-2011(1)," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 9(2), pages 117-137, October.
    3. Busch, Ramona & Koziol, Philipp & Mitrovic, Marc, 2015. "Many a little makes a mickle: Macro portfolio stress test for small and medium-sized German banks," Discussion Papers 23/2015, Deutsche Bundesbank.
    4. Izzeldin, Marwan & Muradoğlu, Yaz Gülnur & Pappas, Vasileios & Sivaprasad, Sheeja, 2021. "The impact of Covid-19 on G7 stock markets volatility: Evidence from a ST-HAR model," International Review of Financial Analysis, Elsevier, vol. 74(C).
    5. Busch, Ramona & Koziol, Philipp & Mitrovic, Marc, 2018. "Many a little makes a mickle: Stress testing small and medium-sized German banks," The Quarterly Review of Economics and Finance, Elsevier, vol. 68(C), pages 237-253.

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    More about this item

    Keywords

    Financial stress; Productivity; Panel cointegration;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • G01 - Financial Economics - - General - - - Financial Crises
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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