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Diagnosis and policy action for sustainable and inclusive productivity growth

Author

Listed:
  • Won Hee Cho
  • Chiara Criscuolo
  • Isabelle Desnoyers-James
  • Martin Reinhard
  • Rudy Verlhac

Abstract

The global productivity slowdown, characterised by a widespread deceleration in aggregate productivity growth rates, is a prevailing concern for policy makers and academics. In this context, this report summarises evidence on productivity growth and business dynamics, highlighting long-term trends and their drivers, as well as insights specific to the COVID-19 period, with relevant implications for future productivity and innovation. It underscores the role of productivity for employment and wages, and discusses challenges related to the digitalisation of the economy and the green transition. Additionally, it considers how the resurgence of industrial policies necessitates additional analysis to measure and coordinate government action.

Suggested Citation

  • Won Hee Cho & Chiara Criscuolo & Isabelle Desnoyers-James & Martin Reinhard & Rudy Verlhac, 2024. "Diagnosis and policy action for sustainable and inclusive productivity growth," OECD Science, Technology and Industry Working Papers 2024/7, OECD Publishing.
    • Handle: RePEc:oec:stiaaa:2024/7-en
    DOI: 10.1787/1668f250-en
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    More about this item

    Keywords

    Artificial intelligence; Business dynamism; COVID-19; Diffusion; Employment; Industrial policy; Innovation; Labour share; Productivity; Technological change;
    All these keywords.

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods

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