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Accounting for Spanish productivity growth using sectoral data: New Evidence

Author

Listed:
  • Ángel Estrada

    (Banco de España)

  • David López-Salido

    (Banco de España)

Abstract

In this paper we measure, at sectoral level, the sources of Spanish productivity growth, distinguishing among the roles played by labor productivity, the degree of factor substitution and total factor productivity (Solow residual). In terms of value added, total factor productivity growth in the manufacturing sector is higher than in services (2.4% and 1.1% respectively), although the Communication Sector constitutes an exception. In terms of gross production productivity growth in both sectors is virtually the same (0.6% and 0.7% respectively) because of the relative lower weight of intermediate inputs in producing services. During the latest cyclical expansion, 1995-1999, we have observed a marked deceleration in labor productivity, associated to an increase in employment, and to a deceleration in the capital-labor ratio, while total factor productivity has remained more stable.

Suggested Citation

  • Ángel Estrada & David López-Salido, 2001. "Accounting for Spanish productivity growth using sectoral data: New Evidence," Working Papers 0110, Banco de España;Working Papers Homepage.
  • Handle: RePEc:bde:wpaper:0110
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    File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/01/Fic/dt0110e.pdf
    File Function: First version, 2001
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    Citations

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    Cited by:

    1. Sabine Le Bayon, 2006. "La croissance espagnole est-elle soutenable ?," Sciences Po publications info:hdl:2441/2822, Sciences Po.
    2. Ester Faia & Alessia Campolmi, 2005. "Inflation Differentials and Different Labor Market Institutions in the EMU," Money Macro and Finance (MMF) Research Group Conference 2005 80, Money Macro and Finance Research Group.
    3. Ángel Estrada & David López-Salido, 2005. "Sectoral mark-up dynamics in Spain," Working Papers 0503, Banco de España;Working Papers Homepage.
    4. Ana María Iregui & Luis Fernando Melo & María Teresa Ramírez, 2006. "Productividad Regional Y Sectorial En Colombia:Análisis Utilizando Datos De Panel," BORRADORES DE ECONOMIA 003387, BANCO DE LA REPÚBLICA.
    5. Ignacio Hernando & Soledad Núñez, 2004. "The contribution of ICT to economic activity: a growth accounting exercise with Spanish firm-level data," Investigaciones Economicas, Fundación SEPI, vol. 28(2), pages 315-348, May.

    More about this item

    Keywords

    productivity; growth rate; labour;

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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