Productivity from the Bottom Up: Firms and Resource Allocation in Latin America

Carmen Pages

Chapter 4 in The Age of Productivity, 2010, pp 69-96 from Palgrave Macmillan

Abstract: Abstract Consider a leading sports team. To succeed, it must be staffed with good players and they must be placed in the right positions. Just like a successful sports team, the productivity of an economy depends on two basic factors: the productivity of its firms (the players) and the allocation of its available resources (labor and capital) among its firms (the positions). And just as a team full of stars can play poorly if players are assigned to the wrong positions, aggregate productivity depends on much more than the productivity of individual firms. Of course, it would be difficult to put together a successful team-or economy-with weak or inexperienced players.

Keywords: Firm Size; Small Firm; Productivity Growth; Total Factor Productivity; Latin American Country (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-10761-8_4

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DOI: 10.1057/9780230107618_4

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