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on Efficiency and Productivity |
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Issue of 2020‒08‒17
23 papers chosen by |
| By: | Robert J. Gordon; Hassan Sayed |
| Abstract: | We examine the role of the ICT revolution in driving productivity growth behavior for the United States and an aggregate of ten Western European nations (the EU-10) from 1977 to 2015. We find that the standard growth accounting approach is deficient when it separates sources of growth between ICT capital deepening and TFP growth, because much of the effect of the ICT revolution was channeled through spillovers to TFP growth rather than being limited to the capital deepening pathway. Using industry-level data from EU KLEMS, we find that most of the 1995-2005 U.S. productivity growth revival was driven by ICT-intensive industries producing market services and computer hardware. In contrast the EU-10 experienced a 1995-2005 growth slowdown due to a paucity of ICT investment, a failure to capture the efficiency benefits of ICT, and performance shortfalls in specific industries including ICT production, finance-insurance, retail-wholesale, and agriculture. After 2005 both the U.S. and the EU-10 suffered a growth slowdown, indicating that the benefits of the ICT revolution were temporary rather than providing a new permanent era of faster productivity growth. This joint transatlantic post-2005 slowdown is consistent with the broader view that ongoing innovation has been less potent in boosting productivity growth compared to earlier decades of the postwar era. |
| JEL: | E01 E24 O33 O47 O51 O52 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:27425&r=all |
| By: | Bergantino, Angela Stefania (Management and Business Law, University of Bari Aldo Moro); Intini, Mario (Management and Business Law, University of Bari Aldo Moro); Volta, Nicola (Centre for Air Transport Management, Cranfield University) |
| Abstract: | This paper analyses the potential impact of airport competition on technical efficiency by applying the spatial stochastic frontier approach (SSFA) rather than traditional model (SFA). The SSFA allows to isolate the cross-sectional spatial dependence and to evaluate the role of intangible factors in influencing the airport economic performance, through the inclusion of the distance matrix and the shared destinations matrix, calibrated for different distances. By analysing statistical differences between the traditional and the spatial model, it is possible to identify the competition effects. This study includes 206 airports at worldwide level. First, the results show the existence of the spatial component, that could not be otherwise captured by the traditional SFA. Moreover, airport competition is found to affect the efficiency level with either a positive or a negative effect, depending on the distance considered in the spatial model. |
| Keywords: | Transportation; Major Airports ; Efficiency Analysis ; Spatial Interaction ; Airport Competition. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:1287&r=all |
| By: | Alvarez, Antonio; Couce, Lorena; Trujillo, Lourdes |
| Abstract: | We use a stochastic frontier approach to estimate the technology and the technical efficiency of a sample of small-scale fishing boats in the Spanish island of Gran Canaria. Using a model that allows for the determinants of inefficiency, we find that boat efficiency increases with boat size while it is inversely related to the age of the vessel. We pay special attention to the specialization of the fishing boats. For this purpose, we include two variables: one that measures the specialization in few species and another one that reflects technological specialization, which is measured as number of gears used. We find that both variables reduce the efficiency of fishing boats. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:oeg:wpaper:2019/03&r=all |
| By: | Emilia Bonaccorsi di Patti (Bank of Italy); Federica Ciocchetta (Bank of Italy) |
| Abstract: | This paper provides new estimates of cost scale economies for Italian banks, based on a model of bank production that takes into account a comprehensive definition of output including different categories of loans, deposits, off-balance sheet items, payment services, and brokerage and asset management activities. The output definition is more in line with the current business model of banks than previous studies since it explicitly accounts for transaction banking and IT capital. We find returns to scale in operating costs, especially for small and medium-sized institutions. For the largest institutions there is on average no statistically significant evidence of returns from scale on the cost side; however, banks falling into this latter category are quite heterogeneous in size and business model. A more extensive adoption of digital technologies in the future could expand the size range over which positive returns to scale are achievable. These results are robust to alternative input and output specifications and functional forms. An important caveat to this conclusion is that we focus solely on operating costs. |
| Keywords: | bank costs, scale economies, cost efficiency |
| JEL: | D24 G21 L23 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_568_20&r=all |
| By: | Mukherjee, Sacchidananda (National Institute of Public Finance and Policy) |
| Abstract: | In public finance, estimation of tax potential of a government - either federal or provincial - has immense importance to understand future streams of tax revenue. Tax potential depends on tax capacity and tax effort (TE) and therefore joint estimation of both the functions is desirable. There are several frameworks to estimate tax capacity and tax efficiency (tax effort); in the present paper time variant truncated panel sochastic Frontier Approach (SFA) is adopted to estimate the functions jointly for the period 2012-13 to 2019-20. The findings of the study could be useful for policy and especially for the sitting Fifteen Finance Commission. The results of the study show that GST capacity of states depends on size and structural composition of the economy. Introduction of GST has reduced states' GSTcapacity and the impact is restricted to scale only. The study has used data from GST Network (GSTN) database for the post-GST period and given all other factors at their levels, GSTN data shows lower GST capacity for high income states and higher capacity for low income states. The relationship between per capita income (PCI) of states and tax efficiency is non-linear and as PCI rises TE falls and thereafter it rises. Minor states (special category states and UTs with legislative assembly) have lower tax efficiency. Delhi and Goa have the highest GST gap and on average major states could increase their GST collection by 0.52 percent of GSVA and minor states by 1.15 percent if they increase their tax efforts. |
| Keywords: | Tax capacity ; Tax efficiency ; Goods and Services Tax (GST) ; Value Added Tax (VAT) ; Stochastic Frontier Approach ; Panel Data Analysis ; States of India |
| JEL: | H21 H71 H77 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:20/310&r=all |
| By: | Böing, Philipp; Hünermund, Paul |
| Abstract: | In a recent paper, Bloom et al. (2020) find evidence for a substantial decline in research productivity in the U.S. economy during the last 40 years. In this paper, we replicate their findings for China and Germany, using detailed firm-level data spanning three decades. Our results indicate that diminishing returns in idea production are a global phenomenon, not just confined to the U.S. |
| Keywords: | Productivity,Growth,Innovation,R&D,Technological Change |
| JEL: | D24 E23 O31 O47 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:20030&r=all |
| By: | Réka Juhász; Mara P. Squicciarini; Nico Voigtländer |
| Abstract: | We construct a novel dataset to examine the process of technology adoption during a period of rapid technological change: The diffusion of mechanized cotton spinning during the Industrial Revolution in France. Before mechanization, cotton spinning was performed in households, while production in firms only emerged with the new technology around 1800. This allows us to isolate the firm productivity distribution of new technology adopters. We document several stylized facts that can explain the well-documented puzzle that major technological breakthroughs tend to be adopted slowly across firms and – even after being adopted – take time to be reflected in higher aggregate productivity: The productivity of firms in mechanized cotton spinning was initially highly dispersed. Over the subsequent decades, cotton spinning experienced dramatic productivity growth that was almost entirely driven by a disappearance of firms in the lower tail. In contrast, innovations in other sectors (with gradual technological progress) shifted the whole productivity distribution. We document rich historical and empirical evidence suggesting that the pattern in cotton spinning was driven by the need to re-organize production under the new technology. This process of ‘trial and error’ led to widely dispersed initial productivity draws, low initial average productivity, and – in the subsequent decades – to high productivity growth as new entrants adopted improved methods of production and organization. |
| JEL: | F63 N23 O14 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:27503&r=all |
| By: | Nhan Buu Phany (School of Economics, University of Queensland); Shino Takayamaz (School of Economics, University of Queensland) |
| Abstract: | This paper develops a model to analyze bribery under heterogeneous firms’ productivity. In the static setting, we show that there are four possible regimes in equilibrium where firms’ bribery depends on their productivity and fundamental variables, including the state capacity. In the dynamic setting, we show that the regime in which more productive firms pay bribes converges to the regime with no bribery, while the regime where all firms pay bribes does not change. We also show that, unlike in the latter case, output increases over time in the former case. Finally, to test the validity of our theoretical results, we apply the methodology in Ackerberg et al. (2015) while including a bribery variable to a dataset of Vietnamese manufacturing firms between 2005 and 2015. We find a statistically significant and positive relationship between productivity and the likelihood of paying bribes, coinciding with one of the equilibrium regimes shown in our theoretical analysis. |
| Keywords: | corruption, productivity. |
| JEL: | D21 D24 D73 |
| Date: | 2020–06–19 |
| URL: | http://d.repec.org/n?u=RePEc:qld:uq2004:628&r=all |
| By: | Cusolito,Ana Paula; Lederman,Daniel; Pena,Jorge O. |
| Abstract: | This paper presents firm-level estimates of revenue-based total factor productivity premiums of manufacturing firms adopting digital technology in 82 developing economies over 2002?19. The paper estimates productivity using the control function approach and assuming an endogenous revenue-based total factor productivity process, which is a function of multiple firm-choice variables. It estimates the effects of digital technology adoption, learning by exporting, and managerial experience on revenue-based total factor productivity and factor demand. The results reject the null hypothesis of an exogenous revenue-based total factor productivity process, in favor of one in which digital technology adoption, along with the other choice variables, affects revenue-based total factor productivity and factor demand. The estimated premiums are positive for 67.3 (email adoption), 54.6 (website adoption), 59.4 (learning by exporting), and 60.6 (managerial experience) percent of the sample. The probability-adjusted median (log) revenue-based total factor productivity premium associated with email adoption is 1.6 percent and that of website adoption is 2.2 percent, with the latter being higher than the premiums corresponding to exporting and managerial experience. On average, changes in digital technology adoption, email, and website are labor and capital augmenting. The paper also explores the role of complementarities among the firm choice variables. |
| Date: | 2020–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9333&r=all |
| By: | Amat Adarov (The Vienna Institute for International Economic Studies); Robert Stehrer (The Vienna Institute for International Economic Studies) |
| Abstract: | The study analyses the relationships between capital dynamics, productivity, global value chains and foreign direct investment using panel data techniques. Among other results, we confirm the high importance of tangible and intangible ICT capital for productivity and GVC integration. We examine the extent of underinvestment in ICT in the EU relative to other major economies and identify bottlenecks for efficient capital allocation. The sluggish economic performance of the EU in the post-crisis period has been further challenged by the COVID-19 outbreak. Consolidating policy efforts to facilitate ICT investment, tackling the barriers to ICT adoption and broad-based digitalisation are critical for the EU in order to maintain a competitive edge and unlock new growth opportunities in the new normal. |
| Keywords: | productivity, digitalisation, ICT capital, FDI, global value chains, barriers to ICT investments, intangible capital |
| JEL: | F14 F15 F21 E22 O47 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc121096&r=all |
| By: | Imbert, Clement (University of Warwick and JPAL); Seror, Marlon (University of Bristol, DIAL, Institut Convergences Migrations); Zhang, Yifan (Chinese University of Hong Kong); Yanos Zylberberg (University of Bristol, CESifo, the Alan Turing Institute) |
| Abstract: | How does rural-urban migration shape urban production in developing countries? We use longitudinal data on Chinese manufacturing firms between 2001 and 2006, and exploit exogenous variation in rural-urban migration induced by agricultural price shocks for identification. We find that, when immigration increases, manufacturing production becomes more labor-intensive in the short run. In the longer run, firms innovate less, move away from capital-intensive technologies, and adopt final products that use low-skilled labor more intensively. We develop a model with endogenous technological choice, which rationalizes these findings, and we estimate the effect of migration on factor productivity and factor allocation across firms JEL codes: D24 ; J23 ; J61 ; O15 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:1253&r=all |
| By: | Jeremy Atack; Robert A. Margo; Paul Rhode |
| Abstract: | During the nineteenth century, the US manufacturing sector shifted away from the “hand labor” mode of production, characteristic of artisan shops, to the “machine labor” of the factory. This was the focus of an extremely detailed but extraordinarily complex study by the Commissioner of Labor published in 1899 that has until now defied systematic analysis. Here, we explore the overall productivity gains associated with these changes in production methods and the specific, causal role of inanimate power. Under the machine labor mode, the time necessary to complete production tasks declined by 85 percent, a remarkable gain in labor productivity. We also present OLS and IV estimates of the effects of using inanimate power, such as steam, at the production operation level Our IV is based on the gerunds describing the various production activities. Treating our IV estimates as causal, about one-third of the higher productivity of machine labor is attributed to greater use of inanimate power per se. |
| JEL: | N61 O14 O33 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:27436&r=all |
| By: | Melinda Smale; Amidou Assima; Véronique Thériault; Yénizié Kone |
| Abstract: | Mali’s most recent phase of fertilizer subsidies began during the global food crisis of 2008/09, but there is little evidence-based information concerning its effects. To generate information of potential use to policymakers in Mali, we implemented a survey to a random sample of 2400 extended farm family households in two major agroecological zones of Mali—the Delta du Niger and the Plateau de Koutiala. In this paper, we test the effects of the fertilizer subsidy on total fertilizer applied, yield, target cropincome and quantity of all crops sold. We find that subsidized fertilizer accounts for most of thetotal fertilizer applied by farmers, suggesting that in some instances it is displacing demand forcommercial fertilizer. Average fertilizer use rates in kgs appear to be below the recommended quantities for all target crops, despite subsidy receipts. In future research, we intend to verify these findings converting units to nitrogen nutrient kgs, which standardizes across fertilizer types and permits a more exact comparison. We compare regression results across several econometric approaches to improve their reliability. Each econometric approach provides evidence that considering all crops combined, the fertilizer subsidy has a positive effect on total fertilizer applied per ha, yields, and crop revenues of target crop, as well as on quantities of all crops sold. However, important differences are observable among crops. On average, subsidy effects on millet and sorghum outcome variable were weak or not statistically significant. Average subsidy effects on all outcome variables were strong for rice. Average subsidy effects were strong on maize yields, but not revenues or sales of other crops. For cotton, the subsidy only allowed an increase in the mean quantities of fertilizers used without improving productivity or other outcomes. The dose-response estimation suggests efficiency intervals in which the fertilizer subsidy has a positive marginal effect on fertilizer use, productivity and crop sales. These also vary from one crop to another, but are estimated only for rice, maize and cotton given that mean effects are not significant for sorghum and millet. We find no positive marginal effect of subsidized fertilizer on yields below 65 kg/ha for rice and 87 kg/ha for maize. The graphs also show peaks at high levels of subsidized fertilizer for both crops, with declining marginal returns after that point. For rice, marginal effects on rice revenues have a similar shape to that of the yield effect, and effects on quantities of all crops sold are strong through much of the range of subsidized fertilizer applied in the data. This last result is observable also for maize at higher levels of the subsidy, suggesting some spillovers from rice and maize to non-target crops. No positive effect on cotton yields, cotton revenues or quantities of all crops sold is discernible regardless of the level of subsidization. The fertilizer subsidy in Mali is currently designed to target particular crops and enhance their productivity. We conclude that the design could be made more efficient by either reconsidering target crops or targeting the subsidy according to different criteria. We consider that applying the subsidy to cotton represents a deadweight loss—that is, a public expenditure that leads to no discernible supply shift. This last finding could be season dependent, or result from factors we could not measure in this analysis—such as cottonseed quality. |
| Keywords: | Agricultural and Food Policy, Food Security and Poverty |
| Date: | 2020–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:ags:miffrp:303951&r=all |
| By: | Gustavo Ferro; Victoria Oubiña; Carlos A. Romero |
| Abstract: | Our aim is to answer: What are the average efficiency levels of the Argentine labor courts and how do they behave individually with respect to the average? Which are the determinants of the relative efficiency levels of those courts? Are there opportunities to introduce incentives which increase the efficiency of the courts? In doing so we estimate a Data Envelopment Analysis efficiency frontier, and in a second stage we analyze the efficiency scores drivers and the Judiciary career incentives. Our sample are 80 courts during the period 2006-2012.Our findings are of average high levels of efficiency, nonetheless with room for improvements of 9 to 12 percent the output with the same inputs on average, whether variable or constant returns are considered, respectively, The efficiency results take into account caseload and backlog. No measure of capital input is used, thus the analysis is for the short run. The analysis of the efficiency scores against its determinants shows that more variables, outside our sample, are playing a role to explain the variance of the scores. Incentives of Judiciary careers, on the other hand, seem more clearly explained from out data. |
| Keywords: | Courts, Efficiency, Benchmarking, Data Envelopment Analysis |
| JEL: | C65 D24 |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:aep:anales:4140&r=all |
| By: | Joaquin Artes; Jennifer Graves; Meryl Motika (Division of Social Science) |
| Abstract: | When incentivizing a worker with performance pay, does the effectiveness of the pay type used vary by the type of task being completed? To answer this question, we run an experiment to test the task-specific productivity effects of various types of performance-based payments, each intended to incentivize productivity. The incentives we use are competition, high-stakes pay, time pressure and piece rate pay, each evaluated against a non-performance-based flat rate payment. Each of these incentives are applied in situations with participants completing three types of tasks: a routine task, a purely creative task and a creative problem-solving task. By testing these various tasks and pressures in the same experimental design, we are able to make comparisons across task types that have not been possible in previous studies. Our results show that productivity indeed does differ across task type and incentive combinations. We find that, for routine tasks, all incentivizing payment schemes improve productivity relative to flat rate payment. In contrast, for both the purely creative and the creative problem-solving tasks, none of the payment types of piece rate, timed goals nor high stakes pay impact productivity relative to a flat rate payment, with the high pay incentive even decreasing performance on the problemsolving task. We find competition to be the one incentive-based pay scheme that boosts productivity. Participants performed as well or better under competition across all task types, with a notable increase in their performance on pure creative tasks. |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:nad:wpaper:20190028&r=all |
| By: | Aghion, Philippe; Bergeaud, Antonin; Boppart, Timo; Klenow, Peter J.; Li, Huiyu |
| Abstract: | Growth has fallen in the U.S., while firm concentration and profits have risen. Meanwhile, labor's share of national income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which the driving force is falling firm-level costs of spanning multiple markets, perhaps due to accelerating IT advances. In response, the most efficient firms (with higher markups) spread into new markets, thereby generating a temporary burst of growth. Because their efficiency is difficult to imitate, less efficient firms find markets more difficult to enter profitably and therefore innovate less. Eventually, due to greater competition from efficient firms, within-firm markups actually fall. Despite the increase in the aggregate markup and rents, firm incentives to innovate decline --- lowering the long run growth rate. |
| Keywords: | Concentration; labor's income share; Markups; productivity slowdown; rents |
| JEL: | O31 O47 O51 |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14094&r=all |
| By: | Emiko Inoue; Hiroya Taniguchi; Ken Yamada |
| Abstract: | Technological change is essential for balancing economic growth and environmental sustainability. This study measures and documents energy-saving technological change to understand its trends in advanced countries over recent decades. We estimate aggregate production functions with factor-augmenting technology using cross-country panel data and shift-share instruments, thereby measuring and documenting energy-saving technological change. Our results show how energy-saving technological change varies across countries over time and the extent to which it contributes to economic growth in 12 OECD countries from the years 1978 to 2005. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2008.04639&r=all |
| By: | Puji Sucia Sukmaningrum (Faculty of Economics and Business, Universitas Airlangga, Surabaya, Indonesia Author-2-Name: Kashan Pirzada Author-2-Workplace-Name: Asian Research Institute for Corporate Governance (ARICG) and Tunku Puteri Intan Safinaz School of Accountancy, College of Business, Universiti Utara Malaysia, Sintok, Malaysia Author-3-Name: Sylva Alif Rusmita Author-3-Workplace-Name: Faculty of Economics and Business, Universitas Airlangga, Surabaya, Indonesia, Author-4-Name: Fatin Fadhilah Hasib Author-4-Workplace-Name: Faculty of Economics and Business, Universitas Airlangga, Surabaya, Indonesia, Author-5-Name: Tika Widiastuti Author-5-Workplace-Name: Faculty of Economics and Business, Universitas Airlangga, Surabaya, Indonesia, Author-6-Name: Achsania Hendratmi Author-6-Workplace-Name: Faculty of Economics and Business, Universitas Airlangga, Surabaya, Indonesia, Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | Objective - Islamic Banks have a distinct advantage that is not only conduct a commercial operation, but to also conduct social operations. Therefore, Islamic Banks plays an important role in developing the Indonesian economy. The aim of this study is to investigate the impact of internal and external factors that affect the profitability of Islamic Banks in Indonesia. Methodology/Technique – The methodology of this research is multiple regression. The object of this research is the Islamic banking industry in Indonesia. Internal factors include size, liquidity, asset quality, management, and efficiency ratio. External factors include interest rate and inflation. Return on Assets is used to measure profitability. The monthly data is collected from the financial reports of Islamic Banks between 2011 to 2016. Findings – The findings show that size, liquidity, assets quality, management ratio, interest rate and inflation lead to a greater Return on Assets (profitability) in Islamic Banks in Indonesia. Efficiency however does not have a significant effect on profitability of Islamic Banks in Indonesia. Novelty – Based on the results of this research, it can be concluded that the Islamic banking industry can use those variables to improve the profitability of Islamic banks in the future. In addition, there are two variables that affect the profitability of Islamic banking industry. For the Islamic banking industry should anticipate the movement of inflation and interest to improve the profitability of Islamic banks. Type of Paper - Empirical paper. |
| Keywords: | Islamic Banks; Profitability; Internal Factors; External Factors; Indonesia. |
| JEL: | G21 G24 |
| Date: | 2020–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jfbr167&r=all |
| By: | Orea, Luis; Álvarez, Inmaculada C. |
| Abstract: | This chapter summarizes the empirical literature that uses a spatial analysis framework in production economics. This literature takes advantage of the spatial dimension of the data to capture the spillover effects of neighboring production units. In the first three sections, we outline standard spatial extensions of the neoclassical production models aiming to measure knowledge spillovers, the effect of network inputs and economies of agglomeration. The next three sections outline the literature that on one hand examines returns to scale and productivity growth from both internal and external inputs, and on the other hand summarize the spatial econometric techniques used in frontier analyses of firms’ production. The last section includes a set of final remarks regarding the application of spatial econometric techniques in production analyses. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:oeg:wpaper:2019/06&r=all |
| By: | Orea, Luis |
| Abstract: | This working paper serves as guide to efficiency evaluation from an econometric perspective. The analytical framework relies on the most general parametric models and up to date representations of the production technology through Translog and Quadratic distance functions. We outline the most popular estimation methods: maximum likelihood, method-of-moments and distribution-free approaches. In the last section we discuss more advance topics such as how to control for observed and unobserved environmental variables or endogeneity issues. Other topics examined are dynamic efficiency measurement, production risk and uncertainty, and the decomposition of Malmquist productivity indices. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:oeg:wpaper:2019/02&r=all |
| By: | Polemis, Michael |
| Abstract: | This note aims to investigate the impact of the national lockdown adopted by the Italian government on hotel performance. For this purpose, a difference-in-differences (DID) methodology is employed to compare the performance of the hotel industry in Italy and Turkey during the post-treatment period. The empirical findings based on a daily unbalanced panel data set indicate that the national lockdown adopted by the Italian government to stem the COVID-19 spread mitigated the level of hotel performance by 68% on average. Our empirical findings survive robustness checks to account for alternative proxies of hotel performance and the inclusion of time fixed effects on the model. |
| Keywords: | COVID-19; Hotel industry; Lockdown; Difference-in-Differences; Italy |
| JEL: | C23 Z18 |
| Date: | 2020–07–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102053&r=all |
| By: | Mijiyawa,Abdoul Ganiou; Conde,Lancine |
| Abstract: | This paper documents that structural change positively contributed to labor productivity growth in Guinea during 2006-15. However, the contribution of structural change to productivity growth was modest (about one percentage point per year on average), because labor moved from agriculture, the least productive sector, into other relatively low-productivity activities, such as wholesale and retail trade and community services. Although such services are more productive than agriculture, they are low-productivity activities because of the high level of informality. The paper also finds that the contribution of structural change to productivity growth has declined over time, mainly due to the increased labor market rigidity, lower competitive real exchange rate, declining human capital, and weaker government effectiveness. The paper provides a discussion of the policy implications of the findings. |
| Keywords: | Food Security,Rural Labor Markets,Labor Markets,Mining&Extractive Industry (Non-Energy),Educational Sciences |
| Date: | 2020–07–29 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9341&r=all |
| By: | Marianna Epicoco (University of Lorraine, Nancy, France); Magali Jaoul-Grammare (University of Strasbourg, Strasbourg, France); Anne Plunket (University Paris Saclay, France) |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:afc:wpaper:04-20&r=all |