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Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 438323
Title Assessing dynamic efficiency of the Spanish construction sector pre- and post-financial crisis
Author(s) Kapelko, M.; Oude Lansink, A.G.J.M.; Stefanou, S.E.
Source In: North American Productivity Workshop, Houston, USA 6-9 June 2012. - - p. 84 - 85.
Event Proceedings North American Productivity Workshop, Houston, USA, 2012-06-06/2012-06-09
Department(s) Business Economics
WASS
Publication type Abstract in scientific journal or proceedings
Publication year 2012
Abstract This paper estimates dynamic efficiency in the Spanish construction industry before and during the current financial crisis over the period 2001-2009. Static efficiency measures are biased in a context of a significant economic crisis with large investments and disinvestments as they do not account for costs in the adjustment of quasi-fixed factors. The results show that overall dynamic cost inefficiency is very high with technical inefficiency being the largest component, followed by allocative and scale inefficiency. Moreover, overall dynamic cost inefficiency is significantly larger before the beginning of the financial crisis than during the financial crisis. Results also show that larger firms are on average less technically and scale inefficient than smaller firms, but have more problems in choosing the mix of inputs that minimizes their long-term costs. Firms that went bankrupt, on average have a higher overall dynamic cost inefficiency and scale inefficiency than firms that did not go bankrupt.
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