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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, A. Sanchis and Juan A. Sanchis
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Dolores Añón Higón: Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).
María E. Rochina-Barrachina: Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).
A. Sanchis: Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).
Juan A. Sanchis: Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).

Authors registered in the RePEc Author Service: Juan A. Sanchis Llopis () and Maria Engracia Rochina Barrachina

No 1702, Working Papers from Department of Applied Economics II, Universidad de Valencia

Abstract: This paper provides evidence on the effect of the Great Recession on productivity convergence among 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.

Keywords: convergence; TFP; Great Recession; European Union countries (search for similar items in EconPapers)
JEL-codes: F43 O47 O52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-eff, nep-sbm and nep-tid
Date: 2017-02
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Journal Article: The impact of the Great Recession on TFP convergence among EU countries (2018) Downloads
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