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Productivity during recessions with banking crises: Inter-Industry evidence

Felix Rioja, Fernando Rios-Avila () and Neven Valev

Economics Letters, 2017, vol. 152, issue C, 50-53

Abstract: Using sectoral data from 104 countries over 40 years we show that per-worker productivity declines during recessions. The adverse effect is particularly strong if recessions are accompanied by banking crises and especially in sectors and countries with greater financial frictions.

Keywords: Productivity; Recessions; Banking crisis (search for similar items in EconPapers)
JEL-codes: E32 G01 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1016/j.econlet.2016.12.028

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