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Labor Productivity Dynamics in Spain: A Firm-Level Perspective: Spain
Author:
Mr. Nicolas Arregui
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and
Ms. Yu Shi
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Series:
Selected Issues Papers
Volume/Issue:
Volume 2023: Issue 002
Language:
English
Publication Date:
20 Jan 2023
DOI:
https://doi.org/10.5089/9798400231124.018
ISBN:
9798400231124
ISSN:
2958-7875
Pages:
24
Keywords:
Productivity financial constraint firm size competition labor regulation; labor productivity dynamics; I. data coverage; ambitious reform commitment; labor regulation; support measure; Labor productivity; Total factor productivity; Labor markets; Productivity; Europe; Global
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IMF Selected Issues Papers are prepared by IMF staff as background documentation for periodic consultations with member countries. It is based on the information available at the time it was completed.
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This paper uses firm-level data that covers over 1.2 million Spanish firms during the period of 2003-2019 to provide an updated assessment of the drivers of labor productivity in the Spanish economy, focusing on both TFP and firm investment. The empirical analysis shows significant differences in production constraints in both the capital market and the labor market, across firm size and age. This paper also includes a review of Spain’s ambitious reform commitments under the Recovery, Transformation and Resilience Plan and concludes with recommendations for further action.

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Cover Selected Issues Papers
Selected Issues Papers
Publisher:
International Monetary Fund
Volume 2023: Issue 002