Propulsive forces of economic growth in Slovakia: the inference from the input-output table data
The main objective of the paper was an investigation of the structural relations between the industries affecting the macroeconomic performance of the Slovak economy. The scope of the paper focuses on evaluation of the productive efficiency, labor intensity and employment productivity, considering multiple backward and forward linkages among the industries. The highest production efficiency recorded Electricity & Water supply and waste management (D+E), Construction (F), and Administrative support services (N), whereas Arts and Recreation (R), Public administration (O) and Heath care (Q) recorded the lowest one. The results have also shown a moderately negative link between the productivity of some particular industry and labor intensity, which suggests that highly productive sectors need fewer jobs. As a lowest labor intensive industries became Electricity & Water supply and waste management (D+E), Financial and Insurance services (K) and Professional, scientific and technical activities (M). Moreover, considering the ratio between employment multiplier and the coefficient of the labor intensity has shown, that Real estate (L) and Energy & Water supply sector (D+E) is able to sustain most jobs per one unit of the labor intensity, whereas the Education (P) least. For sustaining competitiveness, Slovakia should prioritize high productivity industries or try to foster productivity in lagging ones.
production efficiency, labor intensity, input-output analysis, employment multiplier, competitiveness
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