Autor(es):
Carreira, Carlos 
; Teixeira, Paulino
Data: 2008
Identificador Persistente: http://hdl.handle.net/10316/7913
Origem: Estudo Geral - Universidade de Coimbra
Detalhes do Documento
Internal and external restructuring over the cycle: a firm-based analysis of gr...
Descrição
Abstract This paper discusses the role played by internal restructuring vis-à-vis external restructuring in industry productivity growth, arguing that the contribution of these two components is expected to be sensitive to the economic cycle. The study describes gross flows (job and output) over a period of one decade, and analyses the productivity differential among continuing, entering and exiting firms in the Portuguese manufacturing sector. The results of the decomposition of industry productivity growth suggest that the share of external restructuring is stronger in recession, while internal restructuring seems to be predominant in expansion. The strong and positive contribution of the net entry effect, in 1991–1994, was not followed by any between and cross effects of equivalent magnitude in the 1994–1997 sub-period. The within effect is, as expected, stronger when output growth is at its peak, but in no case large enough to turn productivity growth procyclical. http://dx.doi.org/10.1007/s11123-007-0077-z
Abstract This paper discusses the role played by internal restructuring vis-à-vis external restructuring in industry productivity growth, arguing that the contribution of these two components is expected to be sensitive to the economic cycle. The study describes gross flows (job and output) over a period of one decade, and analyses the productivity differential among continuing, entering and exiting firms in the Portuguese manufacturing sector. The results of the decomposition of industry productivity growth suggest that the share of external restructuring is stronger in recession, while internal restructuring seems to be predominant in expansion. The strong and positive contribution of the net entry effect, in 1991–1994, was not followed by any between and cross effects of equivalent magnitude in the 1994–1997 sub-period. The within effect is, as expected, stronger when output growth is at its peak, but in no case large enough to turn productivity growth procyclical. http://dx.doi.org/10.1007/s11123-007-0077-z
Tipo de Documento
Artigo
Idioma Inglês
Idioma Inglês
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