The Productivity Growth Slowdown in Advanced Economies
نویسنده
چکیده
Perhaps the most remarkable fact about economic growth in recent decades is the slowdown in productivity growth that occurred around the year 2000. This slowdown is global in nature, featuring in many countries throughout the world. In this discussion, I summarize some important characteristics of the slowdown and consider recent insights from the growth literature on its possible causes.
منابع مشابه
Total Factor Productivity Growth, Technical Change and Technical Efficiency Change in Asian Economies: Decomposition Analysis
The aim of this paper is to analyze total factor productivity (TFP) growth and its components in Asian countries applying Stochastic Frontier Analysis (SFA) to the time series data of 44 Asian countries from 2000 to 2010. Using Battese and Coelli approach, TFP is divided into technical efficiency change and technical change. TFP decomposition using SFA method for the years 1998 to 2007 indicate...
متن کاملThe Global Productivity Slowdown, Technology Divergence and Public Policy: a Firm Level Perspective
Since the late 1990s, labor productivity (total output per hour worked) growth has slowed markedly for many of the world’s largest economies. Using a micro-level dataset of firms in OECD member countries, OECD researchers Dan Andrews, Chiara Criscuolo, and Peter Gal decompose the slowdown and show that the top (“frontier”) firms have continued seeing productivity increases while the others (the...
متن کاملChina-Japan-United States Integration amid Global Rebalancing: A Computable General Equilibrium Analysis
Using a global general equilibrium trade model, the paper assesses the long-term implications of global rebalancing for Asian economies and explores the benefits of ChinaJapan-US integration. The analysis suggests that consumption evaporation and growth slowdown in the US and the consequent its current account correction would force China, Japan and other East Asian economies to undergo substan...
متن کاملBreaking Down Barriers to Growth
ow best to rekindle growth is a subject of intense debate in most of europe’s developed economies and in Japan. over the past decade, these countries have experienced a slowdown of economic growth at the same time as lengthening life spans have caused their pension and health care costs to mount. some economists have recommended lifting restrictions on competition in the many sectors where they...
متن کامل05 Impact of Productivity and Institutional Quality on Environmental Quality (Evidences from Developing Economies)
Examination of the environmental pollution and the factors influencing it by considering the specific characteristics of each country for acheivment to growth and sustainable development and reduse of emission is very important. this study, investigate the effect of productivity and institutional quality on the quality of the environment by using the panel data analysis for 16 developing countr...
متن کامل