Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/307719 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
wiiw Working Paper No. 257
Publisher: 
The Vienna Institute for International Economic Studies (wiiw), Vienna
Abstract: 
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.
Subjects: 
Labor Productivity
Convergence
Planned Economies
Oil price shocks
Manufacturing
Productivity
Competitiveness
Difference-in-Difference
COMECON Dataset
KLEMS Dataset
Structural change
JEL: 
O47
N64
P23
L60
Q43
Document Type: 
Working Paper

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