Output collapses and productivity destruction
Abstract: In this paper we analyze the long-run relationship between output collapses—defined as GDP falling substantially below trend—and total factor productivity (TFP). We use a panel of 76 developed and developing countries during the period 1960–2004 to identify episodes of output collapse and estimate counterfactual post-collapse TFP trends. Collapses are concentrated in developing countries, especially Africa and Latin America, and were particularly widespread in the 1980s in Latin America. Overall, output collapses are systematically associated with long-lasting declines in TFP. We explore the conditions under which collapses are least or most damaging, as well as the type of shocks that make collapses more likely or severe. Furthermore, we provide a quantification of the associated welfare loss with output collapses
- Standort
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Deutsche Nationalbibliothek Frankfurt am Main
- Umfang
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Online-Ressource
- Sprache
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Englisch
- Anmerkungen
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Postprint
begutachtet (peer reviewed)
In: Review of World Economics ; 146 (2010) 2 ; 359-387
- Klassifikation
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Wirtschaft
- Schlagwort
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Bruttoinlandsprodukt
Sozialprodukt
Volkseinkommen
Produktivität
Wirtschaftswachstum
Konjunktur
:z Geschichte 1960-2004
- Ereignis
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Veröffentlichung
- (wo)
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Mannheim
- (wann)
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2010
- Urheber
- DOI
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10.1007/s10290-010-0051-0
- URN
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urn:nbn:de:0168-ssoar-238949
- Rechteinformation
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Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Letzte Aktualisierung
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15.08.2025, 07:26 MESZ
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Beteiligte
- Blyde, Juan S.
- Daude, Christian
- Fernández Arias, Eduardo
Entstanden
- 2010
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