Montes-Solla, Paulino and Faiña Medín, J. Andres and Lopez-Rodriguez, Jesus (2015): Regional development in Spain 1989-2010: capital widening and productivity stagnation.
![Warning](/style/images/warning.png)
Preview |
PDF
MPRA_paper_72921.pdf Download (364kB) | Preview |
Abstract
This paper analyses the different factors that explain the pattern of economic growth in Spain along the 1989-2010 period. The results of our analysis provide strong evidence of stagnation in productivity throughout most of the period under study. The large investments and the strong growth in capital stocks were practically absorbed by an intense process of job creation. As a consequence, the capital/labour ratio and labour productivity levels had a very low growth, whereas total factor productivity (TFP) decreased over the period of analysis. Therefore unlike other European countries, Spain did not experience a phenomenon of capital deepening with an increase in productivity. The intense GDP pc growth in Spain was of a rather "extensive" type, mainly based on a capital widening process.
Item Type: | MPRA Paper |
---|---|
Original Title: | Regional development in Spain 1989-2010: capital widening and productivity stagnation |
English Title: | Regional development in Spain 1989-2010: capital widening and productivity stagnation |
Language: | English |
Keywords: | Regional development, Infrastructures, Capital widening, Productivity stagnation, Total Factor Productivity |
Subjects: | R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R10 - General R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R13 - General Equilibrium and Welfare Economic Analysis of Regional Economies R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R14 - Land Use Patterns |
Item ID: | 72921 |
Depositing User: | Dr. Paulino Montes-Solla |
Date Deposited: | 18 Aug 2016 14:01 |
Last Modified: | 26 Sep 2019 09:12 |
References: | Aghion P. and Howitt P. 2007, "Capital, Innovation and Growth accounting", Oxford Review of Economic Policy, 23, 1, pp.79-93. Antràs, P. 2004, “Is the U.S. aggregate production function Cobb-Douglas? New estimates of the elasticity of substitution”, Contributions to Macroeconomics, 4(1), Article 4. Aschauer, D.A. 1989, “Is public expenditure productive?", Journal of Monetary Economics, 23, pp. 177-200. Barro, R.J. and Lee, J.W. 1994, “Sources of Economic Growth”, Carnegie Conference Series on Public Policy, 40(1). Bentolila, S. and Saint-Paul, G. 2003, “Explaining Movements in the Labor Share”, Contributions to Macroeconomics, 3(1), Article 9. Blanchard, O. 1997, “The Medium Run”, Brookings Papers on Economic Activity, pp. 89-158. Calderón, C. and Servén, L. 2004, “The Effects of Infrastructure Development on Growth and Income Distribution”, World Bank, Policy Research Working Paper, No. 3400. Canning, D. and Fay, M. 1993, “The Effect of Transportation Networks on Economic Growth”, Columbia University, mimeo. Canning D. and Pedroni P. 1999, “Infrastructure and Long Run Economic Growth", Center for Analytical Economics, Working Paper 99-09. Cuadrado-Roura, J.R. and Maroto-Sanchez, A. 2010, “Regional productivity convergence and changes in the productive structure", in Juan R. Cuadrado (ed.) Regional Policy, Economic Growth and Convergence: Lessons from the Spanish Case, Ch. 7, pp. 149-170, Springer. Cuadrado-Roura, J.R. and Maroto-Sanchez, A. 2011, “Análisis del proceso de especialización regional en los servicios en España", Working Papers 03/11, Instituto Universitario de Análisis Económico y Social. De la Fuente, A. 2010, “Infrastructure Investment, Growth, and Regional Convergence in Spain", in Juan R. Cuadrado (ed.) Regional Policy, Economic Growth and Convergence: Lessons from the Spanish Case, Ch. 8, pp. 171-185, Springer. Escribá, F.J. and Murgui, M.J. 2011, “Determinantes regionales de la PTF en la economía española 1995-2008”, Documentos de Trabajo de la Dirección General de Presupuestos. Escribá, F.J. and Murgui, M.J. 2013, “Productivity and Regional Employment in Spain: A Dynamic Approach", Investigaciones Regionales, 27, pp. 65-89. Farole, T., Rodríguez‐Pose, A. and Storper, M. 2011, “Cohesion Policy in the European Union: Growth, Geography, Institutions", Journal of Common Market Studies, Wiley Blackwell, 49(5), pp. 1089-1111. FBBVA. 2006, “Las fuentes del crecimiento económico español: cambios recientes”. Cuadernos de divulgación del proyecto Capital y crecimiento. FBBVA-Ivie. 2013, “Inversión y stock de capital en España (1964-2011). Evolución y perspectivas del patrón de acumulación”. Fitoussi, J.-P. 2013, “Beyond the Short Term. A Study of Past Productivity’s Trends and an Evaluation of Future Ones, Rome: Luiss University Press. Ford, R. and Poret, P. 1991, “Infrastructure and Private-Sector Productivity”, OECD Economics Department Working Papers, 91, OECD Publishing. Hall, R.E. and Jones, C.I. 1999, “Why do some countries produce so much output per worker than others?", The Quarterly Journal of Economics, 114 (1). pp. 83-116. Jorgenson, D.W. 1995, “Productivity”, Cambridge, Massachusetts, MIT Press. Jorgenson, D.W. and Kevin J.S. 2000, “Raising the Speed Limit: U.S. Economic Growth in the Information Age”, Brookings Papers on Economic Activity, 1, pp. 125-211. La Caixa. 2007, “Diagnóstico estratégico”, Colección Comunidades Autónomas. López-Rodríguez J., Faiña J.A. and Lopez Rodriguez J. 2007, “Human Capital Accumulation and Geography: Empirical Evidence from the European Union”, Regional Studies, 42, pp. 217-234. Maroto-Sanchez, A. and Cuadrado-Roura, J.R. 2006, “La productividad en la economía española”, Colección Estudios, Instituto de Estudios Económicos, Madrid. Mas, M. and Quesada, J. 2006, “The Role of ICT on the Spanish Productivity Slowdown”, MPRA Paper 15828, University Library of Munich, Germany. Mas, M., Milana, C. and Serrano, L. 2008, “Spain and Italy: Catching up and falling behind. Two different tales of productivity slowdown", MPRA Paper 15834, University Library of Munich, Germany. Munnell, A.H. 1990, “Affect How does public infrastructure regional economic performance?", New England Economic Review, Federal Reserve Bank of Boston, pp. 11-32. Redding, S. and Schott, P. 2003, “Distance, skill Deepening and development: will peripheral country clubs ever get rich?", Journal of Development Economics, 72, pp. 515-41. Roller, L.H. and Waverman, L. 2001, “Telecommunications infrastructure and economic development: A simultaneous approach”, American Economic Review, 91 (4): 909-923. Solow, R. M. 1956, “A Contribution to the Theory of Economic Growth", The Quarterly Journal of Economics, 70 (1), pp. 65-94. Solow, R.M. 1957, “Technical Change and the Aggregate Production Function”, The Review of Economics and Statistics, 39 (3), pp. 312-320. Tatom, J.A. 1991, “Public capital and private sector performance”, Review Federal Reserve Bank of St. Louis, pp. 3-15. Whelan, K. (2000): “Computers, Obsolescence, and Productivity”, Board of Governors of the Federal Reserve System Finance and Economics Discussion Series, 6. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/72921 |
Available Versions of this Item
- Regional development in Spain 1989-2010: capital widening and productivity stagnation. (deposited 18 Aug 2016 14:01) [Currently Displayed]