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Productivity growth persistence: firm strategies, size and system properties

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  • Cristiano Antonelli
  • Francesco Crespi
  • Giuseppe Scellato

Abstract

This paper investigates the dynamics of productivity in a large sample of Italian manufacturing firms, focusing on the determinants of firm-level persistence in time of high total factor productivity (TFP) growth rates relative to the corresponding sectoral distributions. In particular, we assess the impact of both the internal characteristics of companies, including size and management strategies, and external systemic conditions, including business cycles and regional innovation performance. In order to disentangle the effects of the mix of internal and systemic factors in shaping firm-level persistence, we implement both transition probability matrices and dynamic probit models. Results reveal the presence of significant persistence in TFP growth rates. Such persistence turns out to be path-dependent since it is shaped by a number of complementary and contingent factors that locally affect the dynamics of the process. Copyright Springer Science+Business Media New York 2015

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  • Cristiano Antonelli & Francesco Crespi & Giuseppe Scellato, 2015. "Productivity growth persistence: firm strategies, size and system properties," Small Business Economics, Springer, vol. 45(1), pages 129-147, June.
    • Handle: RePEc:kap:sbusec:v:45:y:2015:i:1:p:129-147
    DOI: 10.1007/s11187-015-9644-2
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    More about this item

    Keywords

    Productivity; Persistence; Dynamic capabilities; Path dependence; TFP; Emergent system properties; O31; C23; C25; L20; M20; L26;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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