GROWING LIKE SPAIN: 1995-2007

被引:23
|
作者
Garcia-Santana, Manuel
Moral-Benito, Enrique
Pijoan-Mas, Josep
Ramos, Roberto
机构
[1] UPF, Barcelona, Spain
[2] Barcelona GSE, Barcelona, Spain
[3] CEPR, London, England
[4] Banco Espana, Madrid, Spain
[5] CEMFI, Madrid, Spain
关键词
SIZE DISTRIBUTION; PRODUCTIVITY; ALLOCATION; MISALLOCATION; DISTORTIONS; TFP;
D O I
10.1111/iere.12427
中图分类号
F [经济];
学科分类号
02 ;
摘要
Measured total factor productivity (TFP) fell in Spain during the boom years of 1995-2007. Using administrative data from the quasi-universe of firms, we show that there was an increase in misallocation, which was more severe in sectors where connections with public officials are more important for business success. We write and estimate a simple model of cronyism in which heterogeneous firms invest in political connections. Our quantitative exercise concludes that the institutional decline over this period costed 1.9% growth in TFP per year and a 0.8% annual increase in the resources spent by firms in establishing political connections.
引用
收藏
页码:383 / 416
页数:34
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