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Author: Alistair Dieppe Publisher: World Bank Publications ISBN: 1464816093 Category : Business & Economics Languages : en Pages : 552
Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Author: Alistair Dieppe Publisher: World Bank Publications ISBN: 1464816093 Category : Business & Economics Languages : en Pages : 552
Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Author: Matilde Mas Publisher: Edward Elgar Publishing ISBN: 0857932101 Category : Business & Economics Languages : en Pages : 497
Book Description
This book analyses growth at the total economy and industry level from an international perspective, providing unique cross-country comparisons. The authors focus on the EU-25 countries but also include the US, Japan and Korea. The chapters explore growth patterns from a long-run perspective, although greater attention is paid to the period of expansion from 19952007 and the post 2008 period of crisis. Each contribution builds on a common methodology based on a detailed database providing a high degree of disaggregation with respect to the industries and factors accounting for growth. The role played by ICT is expertly emphasized, in particular the different paths followed in the US and the EU. This topical book will prove to be an unrivalled source of comparative data for academics, practitioners and policymakers alike.
Author: Adam S. Posen Publisher: Peterson Institute for International Economics ISBN: 0881327328 Category : Business & Economics Languages : en Pages : 499
Book Description
Labor productivity growth in the United States and other advanced countries has slowed dramatically since the mid-2000s, a major factor in their economic stagnation and political turmoil. Economists have been debating the causes of the slowdown and possible remedies for some years. Unaddressed in this discussion is what happens if the slowdown is not reversed. In this volume, a dozen renowned scholars analyze the impact of sustained lower productivity growth on public finances, social protection, trade, capital flows, wages, inequality, and, ultimately, politics in the advanced industrial world. They conclude that slow productivity growth could lead to unpredictable and possibly dangerous new problems, aggravating inequality and increasing concentration of market power. Facing Up to Low Productivity Growth also proposes ways that countries can cope with these consequences.
Author: Philippe Askenazy Publisher: Oxford University Press ISBN: 0191089400 Category : Business & Economics Languages : en Pages : 336
Book Description
The 2008 financial crisis put an end to an era of sustained economic growth in Europe. The size of the shock differed across European countries and affected economies in different ways. Yet despite this heterogeneity, most European countries suffered a prolonged period of economic slowdown which raised concerns about the risk of a secular stagnation in Europe. This book focuses on labour productivity in Europe, one of the main drivers of growth and prosperity. Although productivity trends became the focus of policy interest in the immediate aftermath of the recession in the UK, 'productivity puzzles' received much less attention in the rest of Europe. These 'puzzles', which are apparent to greater or lesser extents in most European economies, centre on the marked decline in labour productivity growth which occurred with the on-set of recession. They are puzzles because, in neo-classical economics, firms respond to demand shocks by laying off workers, thus maintaining labour productivity and limiting growth in unit labour costs. Yet this didn't happen in this recession - at least, not to the same extent as in previous recessions, except in Spain. This book brings together contributions from leading European economists who analyse production models and macroeconomic policies, with specific focus on European countries that represent around 60% of the EU GDP. Chapters on France, Germany, the UK, and Spain provide new evidences at the firm/workplace level, and stress the role of transitory labour market mechanisms
Author: Marcel P. Timmer Publisher: Cambridge University Press ISBN: 9781107412446 Category : Business & Economics Languages : en Pages : 312
Book Description
Why has European growth slowed down since the 1990s while American productivity growth has speeded up? This book provides a thorough and detailed analysis of the sources of growth from a comparative industry perspective. It argues that Europe's slow growth is the combined result of a severe productivity slowdown in traditional manufacturing and other goods production, and a concomitant failure to invest in and reap the benefits from Information and Communications Technology (ICT), in particular in market services. The analysis is based on rich new databases including the EU KLEMS growth accounting database and provides detailed background of the data construction. As such, the book provides new methodological perspectives and serves as a primer on the use of data in economic growth analysis. More generally, it illustrates to the research and policy community the benefits of analysis based on detailed data on the sources of economic growth.
Author: Publisher: ISBN: 9789276106104 Category : Languages : en Pages :
Book Description
High levels of labour productivity growth are a key element to maintaining high standards of living in the long run in Europe. However, the EU has been experiencing a significant slowdown in labour productivity and total factor productivity growth, a phenomenon which has even exacerbated over the last decade, contrary to what would be expected in the recovery from the financial crisis. The trends and driving forces of the current sluggish productivity growth in Europe are analysed in this report with a special emphasis on services. After reviewing the literature in the field, the report zooms in on the role played by factors such as structural change, intangible investments, firm size distribution, firm demography, labour dynamics, zombie firms, business cycle dynamics and public expenditure and assesses their impact on productivity growth based on a variety of data sources and methodologies. The report focusses on the main results at EU level and includes some cross-country and cross-sectoral comparisons wherever possible.
Author: Ms.Izabela Karpowicz Publisher: International Monetary Fund ISBN: 1513527916 Category : Business & Economics Languages : en Pages : 18
Book Description
Advanced economies have been witnessing a pronounced slowdown of productivity growth since the global financial crisis that is accompanied in recent years by a withdrawal from trade integration processes. We study the determinants of productivity slowdown over the past two decades in four closely integrated European countries, Austria, Denmark, Germany and the Netherlands, based on firm-level data. Participation in global value chains appears to have affected productivity positively, including through its effect on TFP when facilitated by higher investment in intangible assets, a proxy for firm innovation. Other contributors to productivity growth in firms are workforce aging, access to finance, and skills mismatches.
Author: OECD Publisher: OECD Publishing ISBN: 9264248536 Category : Languages : en Pages : 123
Book Description
This book addresses the rising productivity gap between the global frontier and other firms, and identifies a number of structural impediments constraining business start-ups, knowledge diffusion and resource allocation (such as barriers to up-scaling and relatively high rates of skill mismatch).
Author: OECD Publisher: OECD Publishing ISBN: 9264603980 Category : Languages : en Pages : 154
Book Description
This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries.
Author: Bart van Ark Publisher: Springer Science & Business Media ISBN: 1475731612 Category : Business & Economics Languages : en Pages : 408
Book Description
Productivity, Technology and Economic Growth presents a selection of recent research advances on long term economic growth. While the contributions stem from both economic history, macro- and microeconomics and the economics of innovation, all papers depart from a common viewpoint: the key factor behind long term growth is productivity, and the latter is primarily driven by technological change. Most contributions show implicitly or explicitly that technological change is at least partly dependent on growth itself. Furthermore, technology appears to interact strongly with investment in physical and human capital as well as with changes in historical, political and institutional settings. Together these papers are an up-to-date account of the remarkable convergence in theoretical and empirical work on productivity and growth over the past decades. The first part deals with the characteristics of growth regimes over longer periods, ranging from 20 years to two centuries. The next four chapters study the determinants of productivity growth and, in some cases, productivity slowdown during the last quarter of the twentieth century. The final five chapters focus on the role of technology and innovation as the key determinants of growth. Productivity, Technology and Economic Growth is, therefore, a welcome collection for academic scholars and graduate students in economics, history and related social sciences as well as for policy makers.
Author: Alistair Dieppe
Author: Alistair Dieppe
Author: Matilde Mas
Author: Adam S. Posen 
Author: Philippe Askenazy
Author: Marcel P. Timmer
Author: 
Author: Ms.Izabela Karpowicz
Author: OECD
Author: OECD
Author: Bart van Ark