File Name: productivity and economic growth .zip
Productivity is a measure of the efficiency with which a country combines capital and labour to produce more with the same level of factor inputs.
- Productivity and Economic Growth
- How Asia can boost productivity and economic growth
- Economic growth
Productivity and Economic Growth
Report Education. Download PDF. What can state governments do to boost the economic well-being of their people? That is the central question of state economic policy. Incomes and wages can increase across an economy when productivity—production per capita—increases. States have many tools in their arsenal to increase productivity, including investments in public infrastructure, in technological innovation at public universities and other institutions, and in workers through the education and training systems.
As Paul Krugman famously wrote, productivity is not everything, but in the long run, it is almost everything. Rising output per worker is crucial in improving living standards over time [ Krugman, ]. Different productivity levels are significant in explaining why countries having similar amounts of production factors produce different amounts of output [ Hall and Jones, ]. Total factor productivity TFP growth has been identified as the most important source of economic growth during the many decades of US history [ Hulten, ], as a crucial source of industrial revolution in East Asia [ Hsieh, ], and as a main or — in some countries — the second most important contributor to economic growth in Central Eastern European economies after the economic transition [ Levenko et al. Productivity growth is also a determinant of the success on the firm level [ Syverson, ]. Due to its importance, productivity growth is one of the most important topics in macroeconomic research. Between and , the advanced economies of the world experienced high and stable growth of TFP; but, after , TFP growth has slowed significantly.
Google- Scholar Metrics. Toggle navigation. In order to achieve the competitive advantage, countries pay significant importance to the technological advancements. By improving the productivity, the technological innovations and developments allow the countries to make production at lower costs. The increase in factor productivities would enable higher levels of output in the economy. Since the factor productivity influences many other factors and the developed countries meet these criteria better than developing countries do, the factor productivities are higher in developed countries, when compared to those in developing countries. For this reason, in this study, the relationship between labor productivity, which is a partial factor productivity, and economic growth in seven OECD countries for the period between and by utilizing the panel data analysis method.
How Asia can boost productivity and economic growth
Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance.
According to the test results, we find a unidirectional causality relationship from economic growth to labor productivity.
Economic growth can be defined as the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such growth as the percent rate of increase in real gross domestic product , or real GDP. Growth is usually calculated in real terms — i. Measurement of economic growth uses national income accounting. The economic growth-rates of countries are commonly compared [ by whom?
Присяга, которую Чатрукьян принимал, поступая на службу в АНБ, стала непроизвольно прокручиваться в его голове. Он поклялся применять все свои знания, весь опыт, всю интуицию для защиты компьютеров агентства, стоивших не один миллион долларов. - Интуиция? - с вызовом проговорил .
Беккер прикрыл глаза и сжался, раздумывая, сколько времени продлится служба. Выросший в протестантской семье, он всегда считал, что католики ужасно медлительны. Теперь он молил Бога, чтобы священник не торопился, ведь как только служба закончится, он будет вынужден встать, хотя бы для того чтобы пропустить соседей по скамье. А в своем пиджаке он обречен.
В ее глазах мелькнуло подозрение.