The productivity paradox and the new economy: The Spanish case

Martínez, Diego; Rodríguez, Jesús; Torres, José L.

doi:10.1016/j.jmacro.2007.10.007

Cited by 34 publications

(21 citation statements)

References 20 publications

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“…This broader conceptual approach may result in a more appropriate speci…cation of the regression to be estimated An additional extension could involve exploring the way non-R&D innovation resources may be utilised for physical capital accumulation rather than impacting directly on TFP growth. Indeed, as long as a signi…cant part of non-R&D investment can be seen as an investment in new (and more innovative) machinery, it is reasonable to deal with it as an embedded technological progress (see, for instance, Martinez et al, 2008Martinez et al, , 2010, which indirectly a¤ects the technology frontier of the economy.…”

Section: Conclusion and Policy Implicationsmentioning

confidence: 99%

Looking beyond the R&D effects on innovation: The contribution of non-R&D activities to total factor productivity growth in the EU

López‐Rodríguez

Martínez‐López

2017

Structural Change and Economic Dynamics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. carried out across very heterogeneous economies in Europe, how to incorporate them in to economic models is not always straightforward. For instance, the traditional macro approach to estimating the determinants of total factor productivity (TFP) does not handle them well. To counter these problems, this paper proposes applying an augmented macro-theoretical model to estimate the determinants of TFP by jointly considering the e¤ects of R&D and the impact of non-R&D innovation activities on the productivity levels of …rms. Estimations from a model of a sample of EU-26 countries covering the period [2004][2005][2006][2007][2008] show that the distinction between R&D and non-R&D e¤ects is signi…cant for a number of di¤erent issues. First, the results show a sizable impact on TFP growth, as the impact of R&D is twice that of non-R&D. Second, absorptive capacity is only linked to R&D endowments. And third, the two types of endowments cannot strictly been seen as complementary, at least for the case of countries with high R&D intensities or high non-R&D intensities. Terms of use: Documents in

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Section: Conclusion and Policy Implicationsmentioning

confidence: 99%

Looking beyond the R&D effects on innovation: The contribution of non-R&D activities to total factor productivity growth in the EU

López‐Rodríguez

Martínez‐López

2017

Structural Change and Economic Dynamics

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“…A complementary explanation for the negative contribution of TFP to the Spanish economy as a whole can be found in Martínez et al (2008). They point out that, as evidenced by past technological revolutions, it takes time for the potential relevant benefits of ICT to become apparent.…”

Section: Aggregate Impactmentioning

confidence: 98%

New technologies and regional growth: the case of Andalucía

Martínez

Rodríguez

2008

Ann Reg Sci

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“…Temporary workers surviving to this massive job destruction are likely to have di¤erent characteristics from those occupying temporary positions during years preceding the crisis. 22 Indeed, administrative records show that the proportion of high-skilled workers has increased among temporary employees since 2007.…”

Section: Time Variationmentioning

confidence: 99%

The Spanish Productivity Puzzle in the Great Recession

Hospido

Moreno‐Galbis²

2015

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E S ABSTRACTThe Spanish Productivity Puzzle in the Great Recession * While Spain had traditionally under-performed its European counterparts in terms of labor productivity, the trend is reversed after 2007. The evolution of aggregate productivity in Spain during the Great Recession largely responds to the adverse conditions in the labor market, but not only. Using a longitudinal sample of Spanish manufacturing and services companies between 1995 and 2012, we show that the recent increase in Spanish aggregate productivity also responds to the evolution of the total factor productivity (TFP) and to composition effects. By combining the information at the firm level on balance sheet items, collective agreements and imports-exports, we are able to establish that commitment to a collective agreement at the firm level and access to external markets are positively related to TFP performance during the whole period. In addition, we estimate that firm TFP was negatively correlated with the share of temporary workers during the expansion period, 1995-2007, whereas the sign of that correlation reversed completely during the crisis, 2008-2012. Finally, we relate this sign reversal with the changing composition of temporary workers in the labor market.JEL Classification: J24, J21, J52

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The productivity paradox and the new economy: The Spanish case

Cited by 34 publications

References 20 publications

Looking beyond the R&D effects on innovation: The contribution of non-R&D activities to total factor productivity growth in the EU

Looking beyond the R&D effects on innovation: The contribution of non-R&D activities to total factor productivity growth in the EU

New technologies and regional growth: the case of Andalucía

The Spanish Productivity Puzzle in the Great Recession

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