Models of Productivity in European Union, the USA and Japan
In this paper, three types of model are used for measuring productivity at the country level: a non-parametric model based on economic growth, an econometric model based on a Cobb-Douglas type production function, and a third procedure combining both parametric and non-parametric techniques. These models are applied to the private sectors of European Union Countries (15),the United States, and Japan in the period 1983-2000. The findings indicate that the three models do not provide substantially different results. The countries analysed show remarkably different productivity growth patterns, and, moreover, he optimal growth pattern is the one in which growth is accompanied by increases in employment. Those countries that present both productivity growth and increased employment, have generally made an important investment effort both in education and research over the final decades of 20th century.
Volume (Year): 4 (2004)
Issue (Month): 4 ()
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References listed on IDEAS
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"Total Factor Productivity and Economic Growth - Issues for Asia,"
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