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The impact of the Great Recession on TFP convergence among EU countries

Dolores Añón Higón, Juan A. Mañez, María E. Rochina-Barrachina, Amparo Sanchis-Llopis () and Juan A. Sanchis
Authors registered in the RePEc Author Service: Maria Engracia Rochina Barrachina and Juan A. Sanchis Llopis ()

Applied Economics Letters, 2018, vol. 25, issue 6, 393-396

Abstract: This article provides evidence on the effect of the Great Recession on productivity convergence among European Union (EU) economies. We use firm data, aggregated at the country-year level, to analyse the evolution of beta-convergence on total factor productivity (TFP) for 2003–2014. We obtain a positive impact of the recession on TFP (unconditional and conditional) beta-convergence across EU economies. These results support the existence of a catching-up process within the EU during the recent financial crisis. Other macroeconomic and institutional characteristics are important in fostering TFP growth, namely R&D intensity and quality of governance.

Date: 2018
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