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- Title
Productivity, Exit, and Crisis in the Manufacturing and Service Sectors.
- Authors
Casacuberta, Carlos; Gandelman, Néstor
- Abstract
Using micro data from the manufacturing and service sectors in Uruguay, we analyze the relationship between firm exit and firm productivity. We find that even during profound crisis years, when the financial sector collapsed, exit of firms is associated with lower productivity. This suggests that even in the presence of severe financial friction, cleansing effects dominate the scarring or sullying effect of recessions.
- Subjects
MANUFACTURING industries; SERVICE industries; INDUSTRIAL productivity; FINANCIAL crises; RECESSIONS; URUGUAYAN economy
- Publication
Developing Economies, 2015, Vol 53, Issue 1, p27
- ISSN
0012-1533
- Publication type
Article
- DOI
10.1111/deve.12064