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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.
    • Handle: RePEc:bde:wpaper:0110
    as

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    File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/01/Fic/dt0110e.pdf
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    Citations

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    Cited by:

    1. Ana María Iregui B. & Luis Fernando Melo V. & María Teresa Ramírez G., 2007. "Productividad regional y sectorial en Colombia: un análisis utilizando datos de panel," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 25(53), pages 18-65, January.
    2. Ángel Estrada & J. David López-Salido, 2004. "Understanding Spanish dual inflation," Investigaciones Economicas, Fundación SEPI, vol. 28(1), pages 123-140, January.
    3. repec:spo:wpmain:info:hdl:2441/2822 is not listed on IDEAS
    4. Sabine Le Bayon, 2006. "La croissance espagnole est-elle soutenable ?," Post-Print hal-03459160, HAL.
    5. 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.
    6. Ángel Estrada & David López-Salido, 2005. "Sectoral mark-up dynamics in Spain," Working Papers 0503, Banco de España.
    7. 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.
    8. repec:hal:spmain:info:hdl:2441/2822 is not listed on IDEAS
    9. Sabine Le Bayon, 2006. "La croissance espagnole est-elle soutenable ?," SciencePo Working papers Main hal-03459160, HAL.
    10. Ester Faia & Alessia Campolmi, 2005. "Inflation Differentials and Labor and Product Market Differences in the EMU," 2005 Meeting Papers 118, Society for Economic Dynamics.

    More about this item

    Keywords

    productivity; growth rate; labour;
    All these keywords.

    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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