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Financial crisis and hotels’ labour productivity growth: evidence from Spanish islands

José Manuel Cordero and Nickolaos Tzeremes ()

Applied Economics Letters, 2018, vol. 25, issue 19, 1376-1382

Abstract: The article examines hotels’ labour productivity growth over the period of financial crisis. We decompose hotels’ labour productivity into three components: technological change, technological catch-up (efficiency improvement/convergence) and capital deepening. Specifically, we apply our analysis over a sample of 820 Spanish hotels from Balearic and Canary Islands distinguishing three different stages during the crisis period. The results suggest that average terms hotels’ labour productivity was resistant to the financial crisis.

Date: 2018
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