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Slowing Productivity Growth - A developed economy

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  • Christine Carmody

    (Treasury, Government of Australia)

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    Abstract

    Developed economies have experienced slowing productivity growth in recent decades. Potential common drivers include falling rates of innovation, the fading impacts of ICT and past economic reforms, and shifting economic activity to lower productivity sectors. These are argued to have had varying degrees of influence on country performance, tempered by domestic factors. The latter appear to play an important role in the case of Australia.

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    File URL: http://www.treasury.gov.au/~/media/Treasury/Publications%20and%20Media/Publications/2013/Economic%20Roundup%20Issue%202/Downloads/PDF/4-Developed-economy-productivity-slowdown.ashx
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    Bibliographic Info

    Article provided by Treasury, Australian Government in its journal Economic Roundup.

    Volume (Year): (2013)
    Issue (Month): 2 (December)
    Pages: 57-78

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    Handle: RePEc:tsy:journl:journl_tsy_er_2013_2_4

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    Related research

    Keywords: Innovation; technological change; reform; economic growth; information and communications technology; ICT;

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    References

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    1. Dale W. Jorgenson & Marcel P. Timmer, 2011. "Structural Change in Advanced Nations: A New Set of Stylised Facts," Scandinavian Journal of Economics, Wiley Blackwell, vol. 113(1), pages 1-29, 03.
    2. Nick Bloom & John Van Reenen, 2006. "Measuring and Explaining Management Practices Across Firms and Countries," NBER Working Papers 12216, National Bureau of Economic Research, Inc.
    3. Paul Conway & Giuseppe Nicoletti, 2007. "Product Market Regulation and Productivity Convergence: OECD Evidence and Implications for Canada," International Productivity Monitor, Centre for the Study of Living Standards, vol. 15, pages 3-24, Fall.
    4. Bart van Ark & Mary O'Mahoney & Marcel P. Timmer, 2008. "The Productivity Gap between Europe and the United States: Trends and Causes," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 25-44, Winter.
    5. Marcel P. Timmer & Mary O’Mahony & Bart van Ark, 2007. "EU KLEMS Growth and Productivity Accounts: An Overview," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 71-85, Spring.
    6. Robert J. Gordon, 2012. "Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds," NBER Working Papers 18315, National Bureau of Economic Research, Inc.
    7. Ben Dolman, 2009. "What Happened to Australia's Productivity Surge?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 42(3), pages 243-263.
    8. Romain Bouis & Orsetta Causa & Lilas Demmou & Romain Duval & Aleksandra Zdzienicka, 2012. "The Short-Term Effects of Structural Reforms: An Empirical Analysis," OECD Economics Department Working Papers 949, OECD Publishing.
    9. Vivian Chen & Abhay Gupta & Andre Therrien & Gad Levanon & Bart van Ark, 2010. "Recent Productivity Developments in the World Economy: An Overview from The Conference Board Total Economy Database," International Productivity Monitor, Centre for the Study of Living Standards, vol. 19, pages 3-19, Spring.
    10. Dupont, Julien & Guellec, Dominique & Oliveira Martins, Joaquim, 2011. "OECD Productivity Growth in the 2000s : A Descriptive Analysis of the Impact of Sectoral Effects and Innovation," Economics Papers from University Paris Dauphine 123456789/7961, Paris Dauphine University.
    11. Robert J. Gordon, 2010. "Revisiting U. S. Productivity Growth over the Past Century with a View of the Future," NBER Working Papers 15834, National Bureau of Economic Research, Inc.
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