Productividad total de factores del sector construcción en Chile (1986-2015)

Byron J. Idrovo-Aguirre; Victor Daniel Serey

doi:10.4067/S0718-88702018000100029

Authors

Byron J. Idrovo-Aguirre Gerencia de Estudios Cámara Chilena de la Construcción
Victor Daniel Serey Gerencia de Estudios Cámara Chilena de la Construcción

DOI:

https://doi.org/10.4067/S0718-88702018000100029

Keywords:

Productivity, construction, Kalman filter, Chile

Abstract

In this paper, we estimate the Total Factor Productivity (TFP) for the Chilean Construction Sector, considering an annual period between 1986 and 2015. The contribution of the productivity to the sectorial growth is estimated residually, based on a Cobb-Douglas production function for the sectorial GDP and independent measures for capital and labor, corrected by quality and intensity of use. As a result, the sectorial TFP has exhibited a downward trend in the last five years, after remaining virtually flat since 1986 to 2011. The economic growth of the sector shows to be dominated by the accumulation of factors rather than by the efficiency with which they are used in the productive process. This could explain, partially, the vulnerability of sectorial activity to the economic cycle.

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