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Market services productivity across Europe and the US

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Author Info
Robert Inklaar
Marcel P. Timmer
Bart van Ark

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Abstract

"Since the mid-1990s, market services have positively influenced labor productivity growth in the US, but not in most European countries. We analyze these cross-country differences in growth dynamics using industry-level measures of output, inputs, and multifactor productivity (MFP) from the new EU KLEMS database. We find that using detailed data has important implications for empirical analysis of policy influences on growth. Increased investment in information and communication technology (ICT) capital and growth in human capital contributed substantially to labor productivity growth in market services across all European countries and the US. However, countries differ most strongly in the rates of efficiency improvement in the use of inputs. We find no evidence of an externality-driven relationship between such efficiency changes and the growth of ICT use or of employment of university-educated workers. We also find that entry liberalization has been beneficial for productivity growth in telecommunications, but not in other service industries." Copyright (c) CEPR, CES, MSH, 2008..

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0327.2007.00194.x
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Publisher Info
Article provided by CEPR, CES, MSH in its journal Economic Policy.

Volume (Year): 23 (2008)
Issue (Month): (01)
Pages: 139-194
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Handle: RePEc:bla:ecpoli:v:23:y:2008:i::p:139-194

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  1. Bassanini, Andrea & Nunziata, Luca & Venn, Danielle, 2008. "Job Protection Legislation and Productivity Growth in OECD Countries," IZA Discussion Papers 3555, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Robert Anderton & Paul Hiebert, . "The Impact of Globalisation on the Euro Area Macroeconomy," Discussion Papers 09/14, University of Nottingham, GEP. [Downloadable!]
  3. McMorrow, Kieran & Röger, Werner & Turrini, Alessandro Antonio, 2009. "The EU-US total factor productivity gap : An industry-level perspective," CEPR Discussion Papers 7237, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  4. Jochen Hartwig, 2009. "A panel Granger-causality test of endogenous vs. exogenous growth," KOF Working papers 09-231, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
  5. Susanto Basu & Robert Inklaar & J. Christina Wang, 2008. "The value of risk: measuring the service output of U. S. commercial banks," Working Papers 08-4, Federal Reserve Bank of Boston. [Downloadable!]
    Other versions:
  6. Robert Inklaar & Marcel P. Timmer & Bart van Ark, 2008. "Data for Productivity Measurement in Market Services: An International Comparison," International Productivity Monitor, Centre for the Study of Living Standards, vol. 16, pages 72-81, Spring. [Downloadable!]
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