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Dutch Disease, Baumol Disease and Labour Productivity in a Small Petroleum-Based Economy

In: Oil and Gas in Trinidad and Tobago

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  • Roger Hosein

    (The University of the West Indies)

Abstract

This chapter examines the relationship between the Dutch Disease, the Baumol Cost Disease and Labour Productivity. It uses shift share analysis to assess the breakdown of labour productivity into three parts: intra-industry productivity, static shift share and dynamic shift share effects. The chapter establishes that in the context of the Dutch Disease an asymptotic stagnancy sets into economy and the growth of the slowest growing (services) sector that compromises the overall growth of the economy. In the period 1999–2008, the main addition to overall labour productivity in T&T occurred on account of changes in sectoral labour productivity in the BT sector. In the period 2009–2016, the main reason for the fall in labour productivity was the decline in the share of the BT sector in total employment.

Suggested Citation

  • Roger Hosein, 2021. "Dutch Disease, Baumol Disease and Labour Productivity in a Small Petroleum-Based Economy," Springer Books, in: Oil and Gas in Trinidad and Tobago, chapter 0, pages 131-144, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-77669-5_7
    DOI: 10.1007/978-3-030-77669-5_7
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