Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/203064 
Year of Publication: 
2018
Series/Report no.: 
LEM Working Paper Series No. 2018/11
Publisher: 
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM), Pisa
Abstract: 
According to the "cleansing hypothesis", recessions are periods in which productivity-enhancing reallocation intensifies, shifting resources away from less efficient to more efficient firms at a greater pace. Does the Great Recession of 2008-2010 fit this view? We address this question, studying the case of the French manufacturing sector. Based on a panel of firms, built by matching data from several sources, we investigate the contribution of productivity to firm growth and survival over the period 2002-2013. Our results show that, during the recent global crisis, more productive firms decreased their advantage with respect to less productive firms, in terms of both employment growth and probability to survive, in disagreement with the cleansing hypothesis
Subjects: 
firm productivity
selection
employment growth
global crisis
JEL: 
D22
D24
L20
L25
Document Type: 
Working Paper

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