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Corporate Restructuring and Labor Productivity Growth

  • Hakkala, Katariina

    ()

    (The Research Institute of Industrial Economics)

This paper analyzes corporate restructuring and its role in generating labor productivity growth in a sample of large Swedish manufacturing corporations. It is found that external restructuring, including ownership changes, start-ups and closures of plants, accounted for up to 47 percent of the productivity growth of the sample of corporations during the 1986-96 period. The results indicate that the productivity of large multi-plant corporations grew almost twice as fast as that of single-plant firms with the same internal productivity growth, thanks to their organizational flexibility. Divestitures of low productive plants were found to play a particularly important role in the replacement process generating productivity growth. The effect of external restructuring on productivity is to some extent explained by a shift towards a more skill-intensive production.

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File URL: http://www.ifn.se/Wfiles/wp/WP619.pdf
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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 619.

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Length: 33 pages
Date of creation: 28 Feb 2004
Date of revision:
Handle: RePEc:hhs:iuiwop:0619
Contact details of provider: Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
Phone: +46 8 665 4500
Fax: +46 8 665 4599
Web page: http://www.ifn.se/
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  1. John R. Baldwin & Paul K. Gorecki, 1990. "The Contribution of the Competitive Process to Productivity Growth The Role of Firm and Plant Turnover," Working Papers 769, Queen's University, Department of Economics.
  2. Baily, Martin Neil & Bartelsman, Eric J. & Haltiwanger, John, 1995. "Labor productivity: structural change and cyclical dynamics," Serie Research Memoranda 0050, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
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  8. J. Bradford Jensen & Andrew B Bernard, 2002. "The Deaths of Manufacturing Plants," Working Papers 02-15, Center for Economic Studies, U.S. Census Bureau.
  9. Magnus Blomstrom & Linda S. Goldberg, 2001. "Topics in Empirical International Economics: A Festschrift in Honor of Robert E. Lipsey," NBER Books, National Bureau of Economic Research, Inc, number blom01-1, May.
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  13. Disney, Richard F & Haskel, Jonathan & Heden, Ylva, 2000. "Restructuring And Productivity Growth In UK Manufacturing," CEPR Discussion Papers 2463, C.E.P.R. Discussion Papers.
  14. repec:cup:cbooks:9780521633574 is not listed on IDEAS
  15. John C. Haltiwanger, 1997. "Measuring and analyzing aggregate fluctuations: the importance of building from microeconomic evidence," Review, Federal Reserve Bank of St. Louis, issue May, pages 55-78.
  16. repec:cup:cbooks:9780521465618 is not listed on IDEAS
  17. John Haltiwanger & C J Krizan & Lucia Foster, 1998. "Aggregate Productivity Growth: Lessons From Microeconomic Evidence," Working Papers 98-12, Center for Economic Studies, U.S. Census Bureau.
  18. Scott Schuh & Robert K. Triest, 2000. "Role of firms in job creation and destruction in U.S. manufacturing," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 29-44.
  19. Levinsohn, J. & Petrin, A., 1999. "When Industries Become More Productive, Do Firms?: Investigating Productivity Dynamics," Working Papers 445, Research Seminar in International Economics, University of Michigan.
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