Convergence during the Oil Crisis: A Comparison of Labour Productivity in Manufacturing of the Planned and Market Economies
Kochnev, Artem
Convergence during the Oil Crisis: A Comparison of Labour Productivity in Manufacturing of the Planned and Market Economies - Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2024. - 26 S., 4 Tables and 6 Figure, 30cm. - wiiw Working Papers 257 . - wiiw Working Papers 257 .
This paper examines labour productivity convergence in manufacturing of the planned and market economies in the setting of the oil price shocks of the 1970s. Using the wiiw COMECON Dataset and the KLEMS dataset, the paper constructs a single-digit industry-level productivity metric for selected industries and applies a difference-in-difference estimator to estimate the impact of the oil price shocks on convergence in productivity levels across industries between 1970 and 1985. Although the paper does not find an impact of the oil price shocks on convergence of the command economies, it does detect an accelerating impact on the convergence process of the market economies.
wiiw COMECON Dataset:
https://comecon.wiiw.ac.at/
Labor Productivity
Convergence
Planned Economies
Oil price shocks
Manufacturing
Productivity
Competitiveness
Difference-in-Difference
COMECON Dataset
KLEMS Dataset
Structural change
Bulgaria
COMECON - Council for Mutual Economic Assistance
CSSR - Czechoslovakia
GDR – German Democratic Republic
Hungary
Poland
Romania
USSR - Soviet Union
Convergence during the Oil Crisis: A Comparison of Labour Productivity in Manufacturing of the Planned and Market Economies - Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2024. - 26 S., 4 Tables and 6 Figure, 30cm. - wiiw Working Papers 257 . - wiiw Working Papers 257 .
This paper examines labour productivity convergence in manufacturing of the planned and market economies in the setting of the oil price shocks of the 1970s. Using the wiiw COMECON Dataset and the KLEMS dataset, the paper constructs a single-digit industry-level productivity metric for selected industries and applies a difference-in-difference estimator to estimate the impact of the oil price shocks on convergence in productivity levels across industries between 1970 and 1985. Although the paper does not find an impact of the oil price shocks on convergence of the command economies, it does detect an accelerating impact on the convergence process of the market economies.
wiiw COMECON Dataset:
https://comecon.wiiw.ac.at/
Labor Productivity
Convergence
Planned Economies
Oil price shocks
Manufacturing
Productivity
Competitiveness
Difference-in-Difference
COMECON Dataset
KLEMS Dataset
Structural change
Bulgaria
COMECON - Council for Mutual Economic Assistance
CSSR - Czechoslovakia
GDR – German Democratic Republic
Hungary
Poland
Romania
USSR - Soviet Union