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Main lessons of the NBB’s 2014 conference “Total factor productivity : measurement, determinants and effects”

Author

Listed:
  • Emmanuel Dhyne

    (National Bank of Belgium, Research Department)

  • Catherine Fuss

    (National Bank of Belgium, Research Department)

Abstract

The article summarises the scientific contributions and discussions at the 2014 conference organised by the NBB on “Total factor productivity : measurement, determinants and impacts”. At this conference, six original contributions were presented and discussed. They addressed the following questions : (i) what are the implications of technological progress for the relative demand for production factors ? (ii) what are the implications of ageing for the level of productivity in Belgian firms ? (iii) how does competition from imports affect domestic producers ? (iv) what is the link between production efficiency and the organisation of the goods and labour markets ? (v) does State aid improve corporate productivity ? Apart from these contributions, three lectures looked at the causes of the slowdown in total factor productivity in the advanced economies and the effect of innovations (in the form of products, processes or organisation and management) as a driver of TFP growth. Finally, a panel of international experts discussed the main economic policies necessary to avoid what some refer to as secular stagnation.

Suggested Citation

  • Emmanuel Dhyne & Catherine Fuss, 2014. "Main lessons of the NBB’s 2014 conference “Total factor productivity : measurement, determinants and effects”," Economic Review, National Bank of Belgium, issue iii, pages 63-76, December.
    • Handle: RePEc:nbb:ecrart:y:2014:m:december:i:iii:p:63-76
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    File URL: https://www.nbb.be/en/articles/main-lessons-nbbs-2014-conference-total-factor-productivity-measurement-determinants-and-1
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    References listed on IDEAS

    as
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    3. Serguey Braguinsky & Atsushi Ohyama & Tetsuji Okazaki & Chad Syverson, 2014. "Acquisitions, productivity, and profitability : Evidence from the Japanese cotton spinning industry," Working Paper Research 270, National Bank of Belgium.
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    5. Serguey Braguinsky & Atsushi Ohyama & Tetsuji Okazaki & Chad Syverson, 2015. "Acquisitions, Productivity, and Profitability: Evidence from the Japanese Cotton Spinning Industry," American Economic Review, American Economic Association, vol. 105(7), pages 2086-2119, July.
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    7. Jan De Loecker & Catherine Fuss & Johannes Van Biesebroeck, 2014. "International competition and firm performance : Evidence from Belgium," Working Paper Research 269, National Bank of Belgium.
    8. Thomas J. Holmes & James A. Schmitz, 2010. "Competition and Productivity: A Review of Evidence," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 619-642, September.
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    Citations

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    Cited by:

    1. J. De Mulder & H. Godefroid, 2018. "Slowdown in productivity," Economic Review, National Bank of Belgium, issue iv, pages 51-66, december.
    2. R. Basselier & G. Langenus & P. Reusens, 2017. "The potential growth of the Belgian economy," Economic Review, National Bank of Belgium, issue ii, pages 37-53, september.
    3. Phillip Akanni Olomola & Tolulope Temilola Osinubi, 2018. "Determinants of Total Factor Productivity in Mexico, Indonesia, Nigeria, and Turkey (1980–2014)," Emerging Economy Studies, International Management Institute, vol. 4(2), pages 192-217, November.

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    More about this item

    Keywords

    Total Factor Productivity; potential growth;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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