IDEAS home Printed from https://ideas.repec.org/h/zbw/hwwich/281009.html
   My bibliography  Save this book chapter

Das Produktivitätspuzzle: Eine kritische Bewertung

In: Neuvermessung der Datenökonomie

Author

Listed:
  • Roth, Felix

Abstract

Das Wachstum der Arbeitsproduktivität trägt maßgeblich zur Wettbewerbsfähigkeit und zum steigenden Wohlstand einer Volkswirtschaft bei. In den meisten fortgeschrittenen Volkswirtschaften ist es von zentraler Bedeutung, den Lebensstandard einer Gesellschaft mit alternder Bevölkerung aufrechtzuerhalten. Trotz dieser immensen Bedeutung lässt sich feststellen, dass fortgeschrittene Volkswirtschaften wie die USA und die EU seit Beginn der Großen Rezession im Jahr 2007 einen deutlichen Rückgang der Wachstumsraten der Arbeitsproduktivität verzeichnet haben. Nach der Finanzkrise (2008-15/16) hat sich jene im Vergleich zur Vorkrisenzeit (1995-2004/07) mehr als halbiert. Obwohl in diesen Volkswirtschaften ab den 1970er-Jahren - mit Ausnahme der USA Mitte bis Ende der 1990er-Jahre - ein stetiger Rückgang des Arbeitsproduktivitätswachstums zu beobachten ist, bleibt das Ausmaß eines solchen Rückgangs seit Beginn der Großen Rezession (2008-2013/16) für die im Themengebiet forschenden Wissenschaftler aus zwei Gründen rätselhaft. Zum einen sorgt jener Rückgang für Irritation innerhalb der Forschung, da die Realzinsen nahe oder unter null lagen. Zum anderen ist der Rückgang rätselhaft, da er sich inmitten einer anhaltenden Revolution in der Informationsund Kommunikationstechnologie (IKT) sowie der künstlichen Intelligenz (KI) vollzog. Wirtschaftswissenschaftler haben versucht, dieses Rätsel unter verschiedenen facettenreichen Bezeichnungen zu erfassen, so etwa als 'The Secular Stagnation Puzzle', 'The Modern Productivity Paradox' oder einfach als 'The Productivity Puzzle'. Der folgende Beitrag beginnt mit einem Überblick über ein von Roth und Thum im Jahr 2013 entwickeltes Modell für das Wachstum der Arbeitsproduktivität, welches um immaterielles Kapital erweitert worden ist. Im Anschluss daran werden die Trends beim Wachstum der Arbeitsproduktivität von 1950 bis 2006 untersucht. Im dritten Teil wird auf den ausgeprägten Produktivitätsrückgang von 2007 bis 2015 eingegangen. Im vierten Teil wird das "Produktivitätspuzzle" kritisch diskutiert, indem die Schlüsselrolle immaterieller Werte, bezogen auf das Wachstum der Arbeitsproduktivität, herausgearbeitet wird. Sodann befasst sich der Beitrag mit aktuellen Fragen, die sich anlässlich der COVID- 19-Krise ergeben. Zwei Hauptschlussfolgerungen bilden den Abschluss des Beitrags.

Suggested Citation

  • Roth, Felix, 2021. "Das Produktivitätspuzzle: Eine kritische Bewertung," Edition HWWI: Chapters, in: Straubhaar, Thomas (ed.), Neuvermessung der Datenökonomie, volume 6, pages 61-82, Hamburg Institute of International Economics (HWWI).
    • Handle: RePEc:zbw:hwwich:281009
    DOI: 10.15460/hup.254.1924
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/281009/1/1876297999.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.15460/hup.254.1924?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Carol Corrado & Charles Hulten & Daniel Sichel, 2005. "Measuring Capital and Technology: An Expanded Framework," NBER Chapters, in: Measuring Capital in the New Economy, pages 11-46, National Bureau of Economic Research, Inc.
    2. Eskil Ullberg & Leif Edvinsson & Carol Yeh-Yun Lin, 2021. "Intangible Asset Gap in Global Competitiveness," SpringerBriefs in Business, Springer, number 978-3-030-55666-2, January.
    3. Carol Corrado & Charles Hulten & Daniel Sichel, 2009. "Intangible Capital And U.S. Economic Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 661-685, September.
    4. Kevin J. Fox & Thomas Niebel & Mary O'Mahony & Marianne Saam, 2017. "The Contribution of Intangible Assets to Sectoral Productivity Growth in the EU," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 63, pages 49-67, February.
    5. Kyoji Fukao & Tsutomu Miyagawa & Kentaro Mukai & Yukio Shinoda & Konomi Tonogi, 2009. "Intangible Investment In Japan: Measurement And Contribution To Economic Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 717-736, September.
    6. André Sapir & Philippe Aghion & Mathias Dewatripont & Caroline Hoxby & Andreu Mas-Colell, 2007. "Why reform Europe's universities," ULB Institutional Repository 2013/8100, ULB -- Universite Libre de Bruxelles.
    7. Leonard I. Nakamura, 2010. "Intangible Assets And National Income Accounting," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 135-155, June.
    8. Philippe Aghion & Mathias Dewatripont & Caroline Hoxby & Andreu Mas-Colell & André Sapir, 2010. "The governance and performance of universities: evidence from Europe and the US [Distance to frontier, selection, and economic growth]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 25(61), pages 7-59.
    9. Lawrence H. Summers, 2015. "Demand Side Secular Stagnation," American Economic Review, American Economic Association, vol. 105(5), pages 60-65, May.
    10. repec:eme:mfppss:mf-07-2020-0372 is not listed on IDEAS
    11. Howitt, Peter & Aghion, Philippe, 2006. "Appropriate Growth Policy: A Unifying Framework," Scholarly Articles 4554121, Harvard University Department of Economics.
    12. Nicholas Oulton, 2018. "Productivity and the Great Recession," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 53(2), pages 63-68, March.
    13. Philippe Aghion & Mathias Dewatripont & Caroline Hoxby & Andreu Mas-Colell & André Sapir, . "Higher aspirations- an agenda for reforming European universities," Blueprints, Bruegel, number 1, June.
    14. Chad Syverson, 2017. "Challenges to Mismeasurement Explanations for the US Productivity Slowdown," Journal of Economic Perspectives, American Economic Association, vol. 31(2), pages 165-186, Spring.
    15. Mark Heil, 2018. "Finance And Productivity: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1355-1383, December.
    16. Philippe Aghion & Peter Howitt, 2006. "Joseph Schumpeter Lecture Appropriate Growth Policy: A Unifying Framework," Journal of the European Economic Association, MIT Press, vol. 4(2-3), pages 269-314, 04-05.
    17. Sapir, Andre & Aghion, Philippe & Bertola, Giuseppe & Hellwig, Martin & Pisani-Ferry, Jean & Rosati, Dariusz & Vinals, Jose & Wallace, Helen, 2004. "An Agenda for a Growing Europe: The Sapir Report," OUP Catalogue, Oxford University Press, number 9780199271498.
    18. repec:bla:perwir:v:9:y:2008:i:3:p:28-45 is not listed on IDEAS
    19. Philippe Aghion, 2008. "Higher Education and Innovation," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(s1), pages 28-45, May.
    20. Jaana Remes, Jan Mischke and Mekala Krishnan, 2018. "Solving the Productivity Puzzle: The Role of Demand and the Promise of Digitization," International Productivity Monitor, Centre for the Study of Living Standards, vol. 34, pages 28-51, Fall.
    21. Adam S. Posen & Jeromin Zettelmeyer (ed.), 2019. "Facing Up to Low Productivity Growth," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 7311, April.
    22. Bart van Ark & Klaas de Vries & Kirsten Jäger, 2018. "Is Europe’s Productivity Glass Half Full or Half Empty?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 53(2), pages 53-58, March.
    23. Roth, Felix, 2019. "Intangible Capital and Labour Productivity Growth: A Review of the Literature," Hamburg Discussion Papers in International Economics 4, University of Hamburg, Department of Economics.
    24. Paul R. Krugman, 2014. "Depressions are Different," Palgrave Macmillan Books, in: Robert M. Solow & Janice Murray (ed.), Economics for the Curious, chapter 0, pages 7-18, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Felix Roth, 2022. "The Productivity Puzzle: A Critical Assessment and an Outlook on the COVID-19 Crisis," Contributions to Economics, in: Intangible Capital and Growth, chapter 0, pages 1-16, Springer.
    2. Roth, Felix, 2019. "Intangible Capital and Labour Productivity Growth: A Review of the Literature," Hamburg Discussion Papers in International Economics 4, University of Hamburg, Department of Economics.
    3. Szunomár, Ágnes, 2019. "A digitális nagy ugrás. Lassulás és modernizációs stratégiaváltás Kínában [The great digital leap. Deceleration and a change in modernisation strategy in China]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1312-1346.
    4. Roth, Felix & Sen, Ali & Rammer, Christian, 2021. "Intangible Capital and Firm-Level Productivity – Evidence from Germany," Hamburg Discussion Papers in International Economics 9, University of Hamburg, Department of Economics.
    5. Andrew Atkeson & Ariel Burstein, 2019. "Aggregate Implications of Innovation Policy," Journal of Political Economy, University of Chicago Press, vol. 127(6), pages 2625-2683.
    6. Schubert, Torben & Jäger, Angela & Türkeli, Serdar & Visentin, Fabiana, 2020. "Addressing the productivity paradox with big data: A literature review and adaptation of the CDM econometric model," MERIT Working Papers 2020-050, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    7. Chen, Wen & Niebel, Thomas & Saam, Marianne, 2016. "Are intangibles more productive in ICT-intensive industries? Evidence from EU countries," Telecommunications Policy, Elsevier, vol. 40(5), pages 471-484.
    8. Carolina Hintzmann & Josep Lladós-Masllorens & Raul Ramos, 2021. "Intangible Assets and Labor Productivity Growth," Economies, MDPI, vol. 9(2), pages 1-21, May.
    9. Georg Licht & Bettina Peters & Christian Köhler & Franz Schwiebacher, 2014. "The Potential Contribution of Innovation Systems to Socio-Ecological Transition. WWWforEurope Deliverable No. 4," WIFO Studies, WIFO, number 47502.
    10. Nakatani, Ryota, 2021. "Total factor productivity enablers in the ICT industry: A cross-country firm-level analysis," Telecommunications Policy, Elsevier, vol. 45(9).
    11. Li, Qing & Wu, Yanrui, 2020. "Intangible capital, ICT and sector growth in China," Telecommunications Policy, Elsevier, vol. 44(1).
    12. Jona-Lasinio, Cecilia & Manzocchi, Stefano & Meliciani, Valentina, 2019. "Knowledge based capital and value creation in global supply chains," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    13. Crass, Dirk & Licht, Georg & Peters, Bettina, 2014. "Intangible assets and investments at the sector level: Empirical evidence for Germany," ZEW Discussion Papers 14-049, ZEW - Leibniz Centre for European Economic Research.
    14. Qing Li & Long Hai Vo, 2021. "Intangible Capital and Innovation: An Empirical Analysis of Vietnamese Enterprises," Economics Discussion / Working Papers 21-02, The University of Western Australia, Department of Economics.
    15. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2008. "A Retrospective Look at the U.S. Productivity Growth Resurgence," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 3-24, Winter.
    16. De, Supriyo, 2014. "Intangible capital and growth in the ‘new economy’: Implications of a multi-sector endogenous growth model," Structural Change and Economic Dynamics, Elsevier, vol. 28(C), pages 25-42.
    17. Felix Roth, 2022. "Revisiting Intangible Capital and Labor Productivity Growth, 2000–2015: Accounting for the Crisis and Economic Recovery in the EU," Contributions to Economics, in: Intangible Capital and Growth, chapter 0, pages 17-42, Springer.
    18. Breithaupt, Patrick & Kesler, Reinhold & Niebel, Thomas & Rammer, Christian, 2020. "Intangible capital indicators based on web scraping of social media," ZEW Discussion Papers 20-046, ZEW - Leibniz Centre for European Economic Research.
    19. Carol Corrado & Jonathan Haskel & Cecilia Jona-Lasinio, 2017. "Knowledge Spillovers, ICT and Productivity Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 79(4), pages 592-618, August.
    20. Robert Inklaar & Marcel P. Timmer, 2012. "Productivity Convergence Across Industries and Countries: The Importance of Theory-based Measurement," Chapters, in: Matilde Mas & Robert Stehrer (ed.), Industrial Productivity in Europe, chapter 11, Edward Elgar Publishing.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:hwwich:281009. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/hwwiide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.