Portuguese capital in the XXIst century: a tale of misallocation?

Detalhes bibliográficos
Autor(a) principal: Maciel, Rui Pedro Antunes
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/105446
Resumo: We analyze the patterns of productivity in the Portuguese manufacturing sectorfrom 2006 to 2017. With a more comprehensive firm-level dataset and with a largertime-span, we confirm the findings of Gopinath et al. (2017): there is evidence ofincreased capital misallocation. However, we show that the results hinge criticallyon the capital stock measure used. Relying on an improved measure, we find twokey results, contradicting the initial ones: (i) a declining economic potential of themanufacturing firms, measured by an hypothetical efficient-level TFP, likely driven bythe destruction of productive capital during the period; and (ii) a reduction in capitalmisallocation, as actual TFP declined less than the theoretical one.Keywords
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spelling Portuguese capital in the XXIst century: a tale of misallocation?ProductivityCapitalMisallocationDomínio/Área Científica::Ciências Sociais::Economia e GestãoWe analyze the patterns of productivity in the Portuguese manufacturing sectorfrom 2006 to 2017. With a more comprehensive firm-level dataset and with a largertime-span, we confirm the findings of Gopinath et al. (2017): there is evidence ofincreased capital misallocation. However, we show that the results hinge criticallyon the capital stock measure used. Relying on an improved measure, we find twokey results, contradicting the initial ones: (i) a declining economic potential of themanufacturing firms, measured by an hypothetical efficient-level TFP, likely driven bythe destruction of productive capital during the period; and (ii) a reduction in capitalmisallocation, as actual TFP declined less than the theoretical one.KeywordsGouveia, Ana FontouraPeralta, SusanaRUNMaciel, Rui Pedro Antunes2020-10-12T09:24:50Z2020-01-222020-01-032020-01-22T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/105446TID:202491986enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:50:37Zoai:run.unl.pt:10362/105446Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:40:26.828219Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Portuguese capital in the XXIst century: a tale of misallocation?
title Portuguese capital in the XXIst century: a tale of misallocation?
spellingShingle Portuguese capital in the XXIst century: a tale of misallocation?
Maciel, Rui Pedro Antunes
Productivity
Capital
Misallocation
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Portuguese capital in the XXIst century: a tale of misallocation?
title_full Portuguese capital in the XXIst century: a tale of misallocation?
title_fullStr Portuguese capital in the XXIst century: a tale of misallocation?
title_full_unstemmed Portuguese capital in the XXIst century: a tale of misallocation?
title_sort Portuguese capital in the XXIst century: a tale of misallocation?
author Maciel, Rui Pedro Antunes
author_facet Maciel, Rui Pedro Antunes
author_role author
dc.contributor.none.fl_str_mv Gouveia, Ana Fontoura
Peralta, Susana
RUN
dc.contributor.author.fl_str_mv Maciel, Rui Pedro Antunes
dc.subject.por.fl_str_mv Productivity
Capital
Misallocation
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Productivity
Capital
Misallocation
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description We analyze the patterns of productivity in the Portuguese manufacturing sectorfrom 2006 to 2017. With a more comprehensive firm-level dataset and with a largertime-span, we confirm the findings of Gopinath et al. (2017): there is evidence ofincreased capital misallocation. However, we show that the results hinge criticallyon the capital stock measure used. Relying on an improved measure, we find twokey results, contradicting the initial ones: (i) a declining economic potential of themanufacturing firms, measured by an hypothetical efficient-level TFP, likely driven bythe destruction of productive capital during the period; and (ii) a reduction in capitalmisallocation, as actual TFP declined less than the theoretical one.Keywords
publishDate 2020
dc.date.none.fl_str_mv 2020-10-12T09:24:50Z
2020-01-22
2020-01-03
2020-01-22T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/105446
TID:202491986
url http://hdl.handle.net/10362/105446
identifier_str_mv TID:202491986
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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