Productivity in Spanish manufacturing: half a century of growth and convergence
Keywords:
Productivity, Manufacturing, Unit Value Ratios, International ComparisonsAbstract
This paper analyses the relative performance of the Spanish manufacturing sector over the past five decades compared to those of the USA, France, Germany, Japan and the United Kingdom. Our comparisons follow the industry of origin approach and are obtained on the basis of over 250 unit value ratios for similar manufactured products. We use growth accounting methods in order to show the relative contributions of physical capital, human capital and total factor productivity to the growth of labour productivity in the Spanish manufacturing sector and its relative gap compared to the USA.
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