Capital services estimates in Portuguese industries, 1977-2003

Ester Silva ()

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: This paper presents capital services estimates for 26 Portuguese industries for the 1977-2003 period. The estimation procedure follows an integrated approach under which the flows of capital services are approximated as a proportion of the capital stock converted into standard efficiency units. Our findings suggest a close proximity between the evolution of capital flows and the observed fluctuations of Portuguese macroeconomic growth. TFP growth estimates based on growth accounting reveal, furthermore, a very disappointing performance of the Portuguese economy during the period under study,with an average annual rate of TFP growth of 0.8% being observed. Performance varies across industries, but the bulk of activities show very modest rates of TFP growth.

Keywords: Capital services; TFP; Portugal (search for similar items in EconPapers)
JEL-codes: D24 O47 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2009-02
New Economics Papers: this item is included in nep-eff
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Capital services estimates in Portuguese industries, 1977–2003 (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:313

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