The Five Drivers: an empirical review
What are the sources of productivity growth? Economic theory offers a panoply of explanations, considering the effects on productivity of organisational factors, research and development activity and factor accumulation, amongst other influences. Translating these theoretical models into workable empirical vehicles is the focus of a large literature. This paper evaluates the empirical literature on productivity performance using the productivity framework conceived by HM Treasury, emphasising Five Drivers - physical capital skills, innovation, competition and enterprise. The paper emphasises the two factors are frequently overlooked: first, the effect of international openness on productivity catch-up, and secondly, the policy importance of divergences between private and social rates of return. Further, whilst evidence relating to the first four drivers is relatively abundant, evidence on the effect of enterprise is scarce.
|Date of creation:||01 Dec 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.economics.ox.ac.uk/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Philippe Aghion & Nicholas Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2002.
"Competition and Innovation: An Inverted U Relationship,"
NBER Working Papers
9269, National Bureau of Economic Research, Inc.
- Philippe Aghion & Nick Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2005. "Competition and Innovation: An Inverted-U Relationship," The Quarterly Journal of Economics, MIT Press, vol. 120(2), pages 701-728, May.
- Howitt, Peter & Griffith, Rachel & Aghion, Philippe & Blundell, Richard & Bloom, Nick, 2005. "Competition and Innovation: An Inverted-U Relationship," Scholarly Articles 4481507, Harvard University Department of Economics.
- Philippe Aghion & Nicholas Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2002. "Competition and innovation: an inverted U relationship," IFS Working Papers W02/04, Institute for Fiscal Studies.
- Prantl, Susanne & Howitt, Peter & Griffith, Rachel & Blundell, Richard & Aghion, Philippe, 2004.
"Entry and Productivity Growth: Evidence From Microlevel Panel Data,"
4481510, Harvard University Department of Economics.
- Philippe Aghion & Richard Blundell & Rachel Griffith & Peter Howitt & Susanne Prantl, 2004. "Entry and Productivity Growth: Evidence from Microlevel Panel Data," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 265-276, 04/05.
When requesting a correction, please mention this item's handle: RePEc:oxf:wpaper:252. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Caroline Wise)
If references are entirely missing, you can add them using this form.