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We estimate the impact of financial development on industry-level TFP growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. We find a significant relationship between financial development and industry-level TFP growth when...
Persistent link: https://www.econbiz.de/10013160277
This study investigates how financial development affects capital allocation across industries in a panel of countries at different stages of development (China, India, Mexico, Korea, Japan and the US) over the period 1980-2014. Following the approach proposed by Chari et al (2007) and Aoki...
Persistent link: https://www.econbiz.de/10012943765
This study investigates how financial development affects capital allocation across industries in a panel of countries at different stages of development (China, India, Mexico, Korea, Japan and the US) over the period 1980-2014. Following the approach proposed by Chari et al (2007) and Aoki...
Persistent link: https://www.econbiz.de/10012944025
The US economy has experienced a rapid expansion in industries with low productivity growth. In this paper, we … investigate the effect of financial development on productivity growth in these so-called stagnant industries. We show that while … banking reforms have an insignificant effect on aggregate productivity growth, as documented in prior study, stagnant …
Persistent link: https://www.econbiz.de/10014241746
Jobless growth in the South Korean manufacturing industry has been observed since 2015. Even as total value added in the manufacturing sector is continuously growing, manufacturing employment levels are decreasing; this pattern first emerged in the 1990s, lasting for a decade. The decoupling of...
Persistent link: https://www.econbiz.de/10014263910
This paper revisits the role of the manufacturing sector during the middle-income stage. By exploiting a large dataset that covers internationally comparable sectoral information, we prove that the manufacturing sector is imbued with three important characteristics. First, for middle-income...
Persistent link: https://www.econbiz.de/10011476359
exploring trends in energy- and labour productivity across 10 manufacturing sectors and 14 OECD countries for the period 1970 … considerably to aggregate manufacturing energy-productivity growth and, hence, to decoupling, while in other countries they partly … manufacturing labour-productivity developments. Furthermore, we find labour-productivity growth to be higher on average than energy-productivity …
Persistent link: https://www.econbiz.de/10011334858
and the Generalized Method of Moments estimators to test, respectively, for Total Factor Productivity determinants and … labor productivity convergence driving forces (i.e.capital accumulation and technological catch-up) in different … cross-country heterogeneity of labor productivity convergence tendencies. My results show that technology growth rate is …
Persistent link: https://www.econbiz.de/10010343896
for each 4-digit SIC code. Our framework uses the Petrin and Levinsohn (2008) definition of aggregate productivity growth …
Persistent link: https://www.econbiz.de/10013152982
Studies on Indian manufacturing have been unable to provide consistent estimates of productivity and its growth rates …, TFP growth increases substantially in the public corporations. Productivity transition seems to be random across different … (3-digit NIC code) industries. Industries with focus towards services experienced higher productivity growth than others …
Persistent link: https://www.econbiz.de/10012718180