Commodity prices, growth and productivity: a sectoral view

Abstract: We construct TFP series at a sectoral level for Chile and analyze how commodity price shocks affect these measures. The Dutch-Disease literature is concerned by that possible fall in productivity in the industrial sector after a commodity boom, as that sector may be a mayor driver of TFP...

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Autores principales: De la Huerta, Claudia, García Cicco, Javier
Formato: Documento de trabajo
Lenguaje:Español
Publicado: Banco Central de Chile 2022
Materias:
COMMODITIES
Chile
PRODUCTIVIDAD
Acceso en línea:https://repositorio.uca.edu.ar/handle/123456789/15029
Aporte de:
Repositorio Institucional de la Universidad Católica Argentina (UCA) de Universidad Católica Argentina
id I33-R139-123456789-15029
record_format dspace
institution Universidad Católica Argentina
institution_str I-33
repository_str R-139
collection Repositorio Institucional de la Universidad Católica Argentina (UCA)
language Español
topic COMMODITIES
Chile
PRODUCTIVIDAD
spellingShingle COMMODITIES
Chile
PRODUCTIVIDAD
De la Huerta, Claudia
García Cicco, Javier
Commodity prices, growth and productivity: a sectoral view
topic_facet COMMODITIES
Chile
PRODUCTIVIDAD
description Abstract: We construct TFP series at a sectoral level for Chile and analyze how commodity price shocks affect these measures. The Dutch-Disease literature is concerned by that possible fall in productivity in the industrial sector after a commodity boom, as that sector may be a mayor driver of TFP improvements for the economy as a whole. Our results provide evidence that indeed Industrial TFP is negatively affected by positive commodity price shocks, both after either temporary or permanent shocks. However, despite this effect, TFP at the aggregate level is not necessarily reduced. In particular, Aggregate TFP does not seems to be significantly affected by the shock, while if we exclude Commodities and Utilities, or if we just focus on non-traded sectors, TFP actually tends to increase. This results holds even controlling for the possibility of sectoral relocations of resources in measuring TFP at an aggregate level.
format Documento de trabajo
author De la Huerta, Claudia
García Cicco, Javier
author_facet De la Huerta, Claudia
García Cicco, Javier
author_sort De la Huerta, Claudia
title Commodity prices, growth and productivity: a sectoral view
title_short Commodity prices, growth and productivity: a sectoral view
title_full Commodity prices, growth and productivity: a sectoral view
title_fullStr Commodity prices, growth and productivity: a sectoral view
title_full_unstemmed Commodity prices, growth and productivity: a sectoral view
title_sort commodity prices, growth and productivity: a sectoral view
publisher Banco Central de Chile
publishDate 2022
url https://repositorio.uca.edu.ar/handle/123456789/15029
work_keys_str_mv AT delahuertaclaudia commoditypricesgrowthandproductivityasectoralview
AT garciaciccojavier commoditypricesgrowthandproductivityasectoralview
bdutipo_str Repositorios
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