Multifactor productivity growth did not recover since the financial crisis

2019 ◽  
Keyword(s):  
Financial Crisis ◽  
Productivity Growth ◽  
Multifactor Productivity

Inflation and multifactor productivity growth: a response to Smyth

1998 ◽  
Vol 5 (5) ◽  
pp. 271-274 ◽  
Author(s):  
Donald G. Freeman ◽  
David B. Yerger
Keyword(s):  
Productivity Growth ◽  
Multifactor Productivity

Spain: A Success Story Shadowed Only by a Poor Productivity Performance

2007 ◽  
Vol 200 ◽  
pp. 87-95
Author(s):  
Matilde Mas ◽  
Javier Quesada
Keyword(s):  
European Union ◽  
Productivity Growth ◽  
Construction Sector ◽  
The European Union ◽  
Success Story ◽  
Spanish Economy ◽  
Multifactor Productivity ◽  
Service Sectors ◽  
Almost All ◽  
Very High

Since joining the European Union in 1986, the performance of the Spanish economy has been quite remarkable, acting as a good example for new entrants of what can be accomplished in twenty years. Its ability to generate employment has been astonishing. Departing from an environment of very high unemployment (close to 25 per cent), Spain has become the country of destination most preferred by immigrants. However, it has also had a scant productivity performance. The main burden on productivity growth lies with the construction sector and almost all private service sectors with the unique exception of the financial sector. Most likely, over the next years, the continuity of the Spanish success will require a reversal of the sources of growth, shifting from labour creation to improvements in multifactor productivity.

scholarly journals IS TAIWAN'S R&D PRODUCTIVITY IN DECLINE? A MICROECONOMETRIC ANALYSIS

2013 ◽  
Vol 14 (1) ◽  
pp. 137-155
Author(s):  
Chih-Hai Yang ◽  
Chia-Hui Huang
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Productivity Growth ◽  
Electronics Industry ◽  
Asian Financial Crisis ◽  
Manufacturing Firms ◽  
Firm Level ◽  
Crisis Period ◽  
Crucial Question ◽  
The Past

Innovation is widely recognized as the main stimulus of economic growth. Considering that Taiwan has devoted increasingly more efforts to R&D since the late 1980s, a crucial question is posed: did the R&D productivity of firms begin to decline in Taiwan during the post-Asian Financial Crisis period when Taiwan's economic growth began to decelerate? This study investigates changes in R&D productivity for Taiwan's manufacturing firms from 1990 to 2003. By employing various approaches to obtain robust results, findings from firm-level microeconometric analysis suggests that overall R&D productivity in Taiwan appears to have been ascendant, particularly during the post-crisis period. This result is also evidenced by segmenting the sample into industry groups, whereby electronics firms have a significantly high R&D productivity growth relative to firms outside the electronics industry. Therefore, the slowdown of Taiwan's economic growth in the past decade is attributed to other influences rather than a slowdown in R&D productivity.

scholarly journals Multifactor productivity growth and the Australian mining sector

2015 ◽  
Vol 59 (4) ◽  
pp. 549-570 ◽  
Author(s):  
Arif Syed ◽  
R. Quentin Grafton ◽  
Kaliappa Kalirajan ◽  
Dean Parham
Keyword(s):  
Productivity Growth ◽  
Mining Sector ◽  
Multifactor Productivity

Why high productivity growth of banks preceded the financial crisis

2013 ◽  
Vol 22 (4) ◽  
pp. 688-712 ◽  
Author(s):  
Alfredo Martín-Oliver ◽  
Sonia Ruano ◽  
Vicente Salas-Fumás
Keyword(s):  
Financial Crisis ◽  
Productivity Growth ◽  
High Productivity

scholarly journals The productivity growth slowdown in advanced economies: causes and policy recommendations

2019 ◽  
Vol 55 (4) ◽  
pp. 391-406
Author(s):  
Marcin Wroński
Keyword(s):  
Financial Crisis ◽  
Productivity Growth ◽  
Capital Accumulation ◽  
Global Financial Crisis ◽  
Population Aging ◽  
Firm Level ◽  
Structural Forces ◽  
Advanced Economies ◽  
Capital Misallocation ◽  
The Global Financial Crisis

AbstractThe growth of total factor productivity (TFP) in advanced economies has slowed significantly after the 1970s. The global financial crisis (GFC) has resulted in the second productivity growth slowdown. This paper, on the basis of a broad literature review, identifies the structural forces and legacies of the financial crisis, explaining the productivity growth slowdown and providing possible policy solutions. The mismeasurement hypothesis is also discussed. The slowing pace of innovations, population aging, slowing human capital accumulation, limits of structural transformation, capital misallocation, and firm-level factors are identified as structural forces slowing TFP growth. Lack of capital deepening, financial frictions, and slowdown of international trade are the most important legacies of GFC affecting productivity growth.

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