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OECD Factbook 2008

Economic, Environmental and Social Statistics

image of OECD Factbook 2008
OECD Factbook 2008 is the fourth edition of a comprehensive and dynamic statistical annual from the OECD. More than 100 indicators cover a wide range of areas: economy, agriculture, education, energy, environment, foreign aid, health and quality of life, industry, information and communications, population/labour force, trade and investment, taxation, public expenditure and R&D. This year, the OECD Factbook features a focus chapter on productivity. Data are provided for all OECD member countries with area totals, and in some cases, for selected non-member economies. For each indicator, there is a two-page spread. A text page includes a short introduction followed by a detailed definition of the indicator, comments on comparability of the data, an assessment of long-term trends related to the indicator, and a list of references for further information on the indicator. The next page contains a table and a graph providing - at a glance - the key message conveyed by the data. A dynamic link (StatLink) is provided for each table directing the user to a web page where the corresponding data are available in Excel® format.

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Multi-factor productivity

Growth accounting typically involves breaking down the growth of gross domestic product (GDP) into three components – the contribution of labour, the contribution of capital and multi-factor productivity (MFP). MFP is the change in GDP that cannot be explained by changes in the quantities of capital and labour that are made available to generate GDP. MFP is sometimes described as disembodied technological progress, because it is the increase in GDP that is not embodied in the amounts of either labour or capital. MFP growth comes from more efficient use of labour and capital inputs, for example through improvements in the management of production processes, organisational change or more generally, innovation. Growth in MFP is a significant factor in explaining the long-term growth of real GDP.

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