Accounting for Spanish productivity growth using sectoral data: New Evidence

Angel Estrada and David Lopez-Salido

No 110, Working Papers from 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.

Keywords: productivity; growth rate; labour (search for similar items in EconPapers)
JEL-codes: J21 J24 J40 O47 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2001
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:0110

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