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A perspective on UK productivity performance

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Author Info

  • Nicholas Crafts
  • Mary O'Mahony

Abstract

The paper reviews recent UK productivity performance using insights from new growth economics and its embodiment in growth accounting techniques. The sources of the UK labour productivity gap are found to differ across countries; broad capital per worker plays a larger part with regard to France and Germany while innovation matters more compared with the USA. The role of incentive structures is examined and the importance of competition as an antidote to agency problems in UK firms is highlighted. Current UK policy is reviewed and the need to address government as well as market failures is stressed.

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File URL: http://www.ifs.org.uk/fs/articles/0043a.pdf
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Bibliographic Info

Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

Volume (Year): 22 (2001)
Issue (Month): 3 (September)
Pages: 271-306

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Handle: RePEc:ifs:fistud:v:22:y:2001:i:3:p:271-306

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References

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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Divide and conquer
    by chris dillow in Stumbling and Mumbling on 2008-03-08 10:10:34
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:
  1. Stephen Nickell & John Van Reenen, 2001. "Technological Innovation and Performance in the United Kingdom," CEP Discussion Papers dp0488, Centre for Economic Performance, LSE.
  2. Crafts, Nicholas & Mills, Terence C, 2001. "TFP Growth in British and German Manufacturing, 1950-96," CEPR Discussion Papers 3078, C.E.P.R. Discussion Papers.
  3. Pezzey, John C.V. & Hanley, Nick & Turner, Karen & Tinch, Dugald, 2006. "Comparing augmented sustainability measures for Scotland: Is there a mismatch?," Ecological Economics, Elsevier, vol. 57(1), pages 60-74, April.
  4. Theodore M. Mitrakos & Georgios Th Simigiannis & Panagiota G. Tzamourani, 2005. "Indebtedness of Greek households: evidence from a survey," Economic Bulletin, Bank of Greece, Economic Research Department, issue 25, pages 13-35, AUgust.
  5. Susanto Basu & John G. Fernald & Nicholas Oulton & Sylaja Srinivasan, 2003. "The Case of the Missing Productivity Growth: Or, Does Information technology explain why productivity accelerated in the United States but not the United Kingdom?," Harvard Institute of Economic Research Working Papers 2021, Harvard - Institute of Economic Research.
  6. John Van Reenen, 2001. "The new economy: reality and policy," Fiscal Studies, Institute for Fiscal Studies, vol. 22(3), pages 307-336, September.
  7. John Pezzey & Nick Hanley & Karen Turner & Dugald Tinch, 2003. "Augmented Sustainability Measures for Scotland," Working Papers 2003_11, Business School - Economics, University of Glasgow.

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