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Does Technological Diffusion Explain Australia's Productivity Performance?

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  • Thierry Tressel

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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Bibliographic Info

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

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Length: 42
Date of creation: 01 Jan 2008
Date of revision:
Handle: RePEc:imf:imfwpa:08/4

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Keywords: Productivity; Labor markets; labor market; labor productivity; technologies; labor market flexibility; flexible labor markets; labor market institutions; labor productivity growth; labor compensation; information technology; labor productivity level; labor market reforms; data sources; labor market policies; information and communication technologies; ict goods; information and communication technology; technology transfer; new technologies; communication technology; labor share; labour; labor market regulations; bargaining agreements; labour market reforms; labor productivity levels; rigid labor market; job turnover; average productivity growth; information technologies; flexible labor market; job tenure; bargaining system; labor market rigidity; technological convergence; labor market rigidities;

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References

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