On the determinants of TFP growth: evidence from Spanish manufacturing firms
On the determinants of TFP growth: evidence from Spanish manufacturing firms
This paper explores the main determinants of productivity growth. The analysis is performed using Spanish firm-level data. We define a framework where the relative magnitudes of alternative, but not exclusive, sources of technical change is simultaneously estimated. Our main finding is that almost all the advances in technology need to be embodied either in new capital goods or in human capital. Our results contradict the existence of a positive contribution of neutral technological progress in determining the aggregate TFP growth. They also leave little room for large, unpriced effects external to the firm, both at the aggregate and industry level. We find evidence of firm-specific learning by doing, short-lived and due to adoption of new processes
TFP growth, technical change, human capital, learning by doing
University of Southampton
Ornaghi, Carmine
33275e47-4642-4023-a195-39c91d0146b0
Castiglionesi, Fabio
457b677d-44f5-4480-930c-7b02c6a8cb5b
2009
Ornaghi, Carmine
33275e47-4642-4023-a195-39c91d0146b0
Castiglionesi, Fabio
457b677d-44f5-4480-930c-7b02c6a8cb5b
Ornaghi, Carmine and Castiglionesi, Fabio
(2009)
On the determinants of TFP growth: evidence from Spanish manufacturing firms
(Discussion Papers in Economics and Econometrics, 912)
Southampton, UK.
University of Southampton
43pp.
Record type:
Monograph
(Discussion Paper)
Abstract
This paper explores the main determinants of productivity growth. The analysis is performed using Spanish firm-level data. We define a framework where the relative magnitudes of alternative, but not exclusive, sources of technical change is simultaneously estimated. Our main finding is that almost all the advances in technology need to be embodied either in new capital goods or in human capital. Our results contradict the existence of a positive contribution of neutral technological progress in determining the aggregate TFP growth. They also leave little room for large, unpriced effects external to the firm, both at the aggregate and industry level. We find evidence of firm-specific learning by doing, short-lived and due to adoption of new processes
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Published date: 2009
Additional Information:
JEL Classification: L60, O30, O33
Keywords:
TFP growth, technical change, human capital, learning by doing
Identifiers
Local EPrints ID: 71041
URI: http://eprints.soton.ac.uk/id/eprint/71041
ISSN: 0966-4246
PURE UUID: bec033d1-ede6-4f61-8f7e-c0d8d56d06d0
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Date deposited: 08 Jan 2010
Last modified: 14 Mar 2024 02:49
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Contributors
Author:
Fabio Castiglionesi
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