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Productivity in the Financial Sector: Brains Are More Important than Computers

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Author Info
Georg Erber
Reinhard Madlener

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Abstract

A conventional decomposition of the financial sector's gross value added growth into its various components indicates that investments in Information and Communication Technologies are highly important. However, a more comprehensive calculation reveals that growth is the result of - in particular - the increased deployment of medium-skilled labour, without whom the technological potential could not be fully realized. Further, productivity increases in the financial sector are also the result of value chains restructured in favour of external intermediate inputs. Case studies and microeconomic assumptions serve to confirm these relations.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.97251.de/diw_wr_2009-9.pdf
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Publisher Info
Article provided by DIW Berlin, German Institute for Economic Research in its journal Weekly Report [Elektronische Ressource].

Volume (Year): (2009)
Issue (Month): 9 ()
Pages: 55-61
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Handle: RePEc:diw:diwwrp:wr5-9

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Related research
Keywords: Financial service industries; Stochastic production possibility frontiers; Efficiency analysis; Growth accounting;

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production
O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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This page was last updated on 2009-11-20.

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