The Impact of the 2008 Economic Crisis on Dynamic Productivity Growth of the Spanish Food Manufacturing Industry. An Impulse Response Analysis

The paper examines the impact of 2008 economic crisis on the dynamic productivity growth and its components using a firm-level dataset of Spanish meat processing, dairy processing and oils and fats firms. The impulse response analysis by local projections shows that the impact of crisis on dynamic productivity growth varies between sectors with negative and persistent in oils and fats, no significant in meat, and positive and persistent in dairy processing industry. The paper documents further that occurrence of crisis involves increases in dynamic technical change across industries, which are offset by the negative impact of dynamic technical inefficiency change.

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 Record created 2017-04-01, last modified 2020-10-28

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