The impact of the 2008 financial crisis on dynamic productivity growth of the Spanish food manufacturing industry. An impulse response analysis

Magdalena Kapelko , A. Oude Lansink , Spiro E. Stefanou

Abstract

The emergence of a financial crisis is an event that can impact the fortunes of nearly all economic agents. The focus here is on the 2008 financial crisis and how firms’ productivity growth was impacted by this crisis in the years that followed. This article focuses on dynamic productivity growth and its components using a firm-level data set of Spanish meat processing, dairy processing, and oils and fats firms. The impulse response analysis shows that the impact of the crisis on dynamic productivity growth is negative and persistent in the oils and fats industry, initially positive but then negative in the meat processing industry, and positive in the dairy processing industry. The observed magnitudes of change in indicator are between 2% and 5% for oils and fats industries, and of 1% in both dairy and meat industries. Our analysis further confirms that firms’ size is an important factor in explaining how crisis impacts dynamic productivity growth and its components, while we find only slight evidence regarding the firms’ experience in the market
Author Magdalena Kapelko (MISaF / IZM / KL)
Magdalena Kapelko,,
- Katedra Logistyki
, A. Oude Lansink - [Wageningen University and Research Centre]
A. Oude Lansink,,
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, Spiro E. Stefanou - [Wageningen University and Research Centre]
Spiro E. Stefanou ,,
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Journal seriesAgricultural Economics, ISSN 0169-5150, e-ISSN 1574-0862, (A 35 pkt)
Issue year2017
Vol48
No5
Pages561-571
Publication size in sheets0.5
Keywords in Englishdata envelopment analysis, dynamic luenberger productivity growth indicator, financial crisis, impulse response analysis, food processing industry
ASJC Classification1102 Agronomy and Crop Science; 2002 Economics and Econometrics
DOIDOI:10.1111/agec.12357
URL http://onlinelibrary.wiley.com/doi/10.1111/agec.12357/full
Languageen angielski
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Kapelko_Lansink_Stefanou_The_ impact_of_ the_ 2008 _financial2017.pdf 261,98 KB
Score (nominal)35
Publication indicators Scopus Citations = 0; WoS Citations = 3; Scopus SNIP (Source Normalised Impact per Paper): 2016 = 1.245; WoS Impact Factor: 2017 = 1.732 (2) - 2017=2.562 (5)
Citation count*6 (2019-12-06)
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* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.
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