6533b82afe1ef96bd128bfff
RESEARCH PRODUCT
The impact of the Great Recession on TFP convergence among EU countries
Juan SanchisJuan A. MañezAmparo SanchisDolores Añón HigónMaría E. Rochina-barrachinasubject
Economics and Econometricsbusiness.industryCorporate governancemedia_common.quotation_subject05 social sciencesConvergence (economics)Monetary economicsInternational tradeRecession0502 economics and businessFinancial crisisEconomicsmedia_common.cataloged_instance050207 economicsEuropean unionbusinessGlobal recessionTotal factor productivityProductivity050205 econometrics media_commondescription
ABSTRACTThis article provides evidence on the effect of the Great Recession on productivity convergence among European Union (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.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2017-05-10 | Applied Economics Letters |