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The Impact of the 2008 Economic Crisis on Dynamic Productivity Growth of the Spanish Food Manufacturing Industry. An Impulse Response Analysis

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  • Kapelko, Magdalena
  • Oude Lansink, Alfons
  • Stefanou, Spiro

Abstract

The paper examines the impact of 2008 economic crisis on the dynamic productivity growth and its components using a firm-level dataset of Spanish meat processing, dairy processing and oils and fats firms. The impulse response analysis by local projections shows that the impact of crisis on dynamic productivity growth varies between sectors with negative and persistent in oils and fats, no significant in meat, and positive and persistent in dairy processing industry. The paper documents further that occurrence of crisis involves increases in dynamic technical change across industries, which are offset by the negative impact of dynamic technical inefficiency change.

Suggested Citation

  • Kapelko, Magdalena & Oude Lansink, Alfons & Stefanou, Spiro, 2014. "The Impact of the 2008 Economic Crisis on Dynamic Productivity Growth of the Spanish Food Manufacturing Industry. An Impulse Response Analysis," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182769, European Association of Agricultural Economists.
  • Handle: RePEc:ags:eaae14:182769
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    References listed on IDEAS

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    3. Teresa Serra & Alfons Oude Lansink & Spiro E. Stefanou, 2010. "Measurement of Dynamic Efficiency: A Directional Distance Function Parametric Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(3), pages 752-763.
    4. Kapelko, Magdalena & Oude Lansink, Alfons & Stefanou, Spiro E., 2014. "Assessing dynamic inefficiency of the Spanish construction sector pre- and post-financial crisis," European Journal of Operational Research, Elsevier, vol. 237(1), pages 349-357.
    5. Nicholas Oulton & María Sebastiá-Barriel, 2013. "Long and Short-Term Effects of the Financial Crisis on Labour Productivity, Capital and Output," CEP Discussion Papers dp1185, Centre for Economic Performance, LSE.
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    10. Chambers, Robert G. & Chung, Yangho & Fare, Rolf, 1996. "Benefit and Distance Functions," Journal of Economic Theory, Elsevier, vol. 70(2), pages 407-419, August.
    11. Kaiji Chen & Alfonso Irarrazabal, 2013. "Misallocation and the recovery of manufacturing TFP after a financial crisis," Working Paper 2013/01, Norges Bank.
    12. Hughes, Abigail & Saleheen, Jumana, 2012. "UK labour productivity since the onset of the crisis — an international and historical perspective," Bank of England Quarterly Bulletin, Bank of England, vol. 52(2), pages 138-146.
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    Keywords

    Productivity Analysis;

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