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Does Technological Diffusion Explain Australia's Productivity Performance?

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Author Info
Thierry Tressel

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Abstract

This paper analyzes the impact of product and labor market policies on technological diffusion and multi-factor productivity (MFP) in a panel of industries in 15 OECD countries over the period 1980 to 2003, with a special focus on Australia. We use a simple convergence empirical framework to show that, on average, convergence of MFP within industries across countries has slowed-down in the 1990s. In contrast, Australian industries have significantly caught-up with industry productivity best practices over the past 16 years, and have benefited from the diffusion of Information and Communication Technologies (ICTs). We show that reforms of both the labor and product markets since the early 1990s can explain Australia's productivity performance and adoption of ICTs.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/4.

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Length: 42 pages
Date of creation: 10 Jan 2008
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Handle: RePEc:imf:imfwpa:08/4

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Keywords: Productivity ; Australia ; Labor markets ;

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    Other versions:
  2. Inklaar, Robert & Timmer, Marcel & van Ark, Bart, 2006. "Mind the gap! International Comparisons of Productivity in Services and Goods Production," GGDC Research Memorandum GD-89, Groningen Growth and Development Centre, University of Groningen. [Downloadable!]
    Other versions:
  3. Acharya, Ram C. & Keller, Wolfgang, 2007. "Technology Transfer through Imports," CEPR Discussion Papers 6296, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  4. Rachel Griffith & Rupert Harrison & Helen Simpson, 2006. "Product market reform and innovation in the EU," IFS Working Papers W06/17, Institute for Fiscal Studies. [Downloadable!]
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  5. Bertola, Giuseppe, 1994. "Flexibility, investment, and growth," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 215-238, October. [Downloadable!] (restricted)
    Other versions:
  6. Robert Inklaar & Mary O'Mahony & Marcel Timmer, 2005. "ICT AND EUROPE's PRODUCTIVITY PERFORMANCE: INDUSTRY-LEVEL GROWTH ACCOUNT COMPARISONS WITH THE UNITED STATES," Review of Income and Wealth, Blackwell Publishing, vol. 51(4), pages 505-536, December. [Downloadable!] (restricted)
    Other versions:
  7. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(5), pages 915-38, October. [Downloadable!] (restricted)
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  9. Kevin J. Stiroh, 2002. "Information Technology and the U.S. Productivity Revival: What Do the Industry Data Say?," American Economic Review, American Economic Association, vol. 92(5), pages 1559-1576, December. [Downloadable!]
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  10. Anders Sorensen, 2001. "Comparing Apples to Oranges: Productivity Convergence and Measurement across Industries and Countries: Comment," American Economic Review, American Economic Association, vol. 91(4), pages 1160-1167, September. [Downloadable!] (restricted)
  11. Philippe Aghion & Richard Blundell & Rachel Griffith & Peter Howitt & Susanne Prantl, 2006. "The Effects of Entry on Incumbent Innovation and Productivity," NBER Working Papers 12027, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  12. Cameron, Gavin & Proudman, James & Redding, Stephen, 2005. "Technological convergence, R&D, trade and productivity growth," European Economic Review, Elsevier, vol. 49(3), pages 775-807, April. [Downloadable!] (restricted)
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  17. Giuseppe Nicoletti & Andrea Bassanini & Ekkehard Ernst & Sébastien Jean & Paulo Santiago & Paul Swaim, 2001. "Product and Labour Markets Interactions in OECD Countries," OECD Economics Department Working Papers 312, OECD, Economics Department. [Downloadable!]
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  19. Coe, David T. & Helpman, Elhanan, 1995. "International R&D spillovers," European Economic Review, Elsevier, vol. 39(5), pages 859-887, May. [Downloadable!] (restricted)
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  20. Productivity Commission, 2004. "ICT Use and Productivity: A Synthesis from Studies of Australian Firms," Development and Comp Systems 0410005, EconWPA. [Downloadable!]
  21. Saint-Paul, Gilles, 2002. "Employment protection, international specialization, and innovation," European Economic Review, Elsevier, vol. 46(2), pages 375-395, February. [Downloadable!] (restricted)
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  22. 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. [Downloadable!]
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  24. Timmer, Marcel & Ypma, Gerard & van Ark, Bart van, 2007. "PPPs for Industry Output: A New Dataset for International Comparisons," GGDC Research Memorandum GD-82, Groningen Growth and Development Centre, University of Groningen. [Downloadable!]
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