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Growth in Hungary 1994-2008: The role of capital, labour, productivity and reallocation

  • Péter Harasztosi


    (Magyar Nemzeti Bank (central bank of Hungary))

This paper relates firm level input changes and productivity to aggregate growth of the Hungarian economy for the period 1992 to 2008. The decomposition includes manufacturing, services, agriculture and construction. Results suggest that the role of firm productivity in growth was not stable over time. It played important role in early transition and in the pre-crisis period. Inputs show an initially positive then, after 2001, decreasing contribution to growth. At the same time input reallocation shows a decreasing trend in Hungary.

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Paper provided by Magyar Nemzeti Bank (Central Bank of Hungary) in its series MNB Working Papers with number 2011/12.

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Length: 46 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:mnb:wpaper:2011/12
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  1. Lucia Foster & John C. Haltiwanger & C. J. Krizan, 2001. "Aggregate Productivity Growth. Lessons from Microeconomic Evidence," NBER Chapters, in: New Developments in Productivity Analysis, pages 303-372 National Bureau of Economic Research, Inc.
  2. J. David Brown & John S. Earle, 2008. "Understanding the Contributions of Reallocation to Productivity Growth: Lessons from a Comparative Firm-Level Analysis," Upjohn Working Papers and Journal Articles 08-141, W.E. Upjohn Institute for Employment Research.
  3. Gábor Kátay & Zoltán Wolf, 2008. "Driving Factors of Growth in Hungary - a Decomposition Exercise," MNB Working Papers 2008/6, Magyar Nemzeti Bank (Central Bank of Hungary).
  4. Gabor Kertesi & Janos Kollo, 2003. "The Employment Effects of Nearly Doubling the Minimum Wage - The Case of Hungary," Budapest Working Papers on the Labour Market 0306, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  5. Gábor Kátay & Zoltán Wolf, 2004. "Investment Behavior, User Cost and Monetary Policy Transmission - the Case of Hungary," MNB Working Papers 2004/12, Magyar Nemzeti Bank (Central Bank of Hungary).
  6. Davide Castellani & Giorgia Giovannetti, 2010. "Productivity and the international firm: dissecting heterogeneity," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 13(1), pages 25-42.
  7. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  8. M. Del Gatto & A. Di Liberto & C. Petraglia, 2008. "Measuring Productivity," Working Paper CRENoS 200818, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  9. Kőrösi, Gábor, 2005. "Vállalati munkahelyteremtés és -rombolás
    [Corporate job creation and job destruction]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 825-845.
  10. Lucia Foster & John Haltiwanger & C.J. Krizan, 2002. "The Link Between Aggregate and Micro Productivity Growth: Evidence from Retail Trade," NBER Working Papers 9120, National Bureau of Economic Research, Inc.
  11. Griliches, Zvi & Regev, Haim, 1995. "Firm productivity in Israeli industry 1979-1988," Journal of Econometrics, Elsevier, vol. 65(1), pages 175-203, January.
  12. Szilárd Benk & Zoltán M. Jakab & Mihály András Kovács & Balázs Párkányi & Zoltán Reppa & Gábor Vadas, 2006. "The Hungarian Quarterly Projection Model (NEM)," MNB Occasional Papers 2006/60, Magyar Nemzeti Bank (Central Bank of Hungary).
  13. Békés, Gábor & Halpern, László & Muraközy, Balázs, 2011. "A teremtő rombolás szerepe a vállalati termelékenység alakulásában Magyarországon
    [The role of creative destruction in the development of corporate productivity in Hungary]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 111-132.
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