Productivity Measurement and Analysis

image of Productivity Measurement and Analysis

Productivity measurement and analysis are the main topics addressed in this book, which brings together contributions presented and discussed in two international workshops organized by the Statistics Directorate and the Directorate for Science, Technology and Industry (DSTI) of the OECD. The first workshop was organised jointly by the OECD with Fundaccion BBVA and the Instituto Valenciano de Investigaciones Económicas and held in Madrid in October 2005, and the second one was organized jointly by the OECD and the Swiss Federal Statistical Office and the State Secretary for Economic Affairs of Switzerland and held in Bern in October 2006. The two workshops brought together representatives of statistical offices, central banks and other branches of government in OECD countries that are engaged in the analysis and the measurement of productivity developments at aggregate and industry levels.


Economic Growth in Sweden, New Measurements

Almost 50 years ago Robert Solow324 started up a new era in growth measurement by publishing his article on economic growth and technological development in the US economy. He used the technique of Growth Accounting to break down growth in US labour productivity into components. His results indicated that almost all growth in the US economy was due to technological developments and very little to capital deepening. This inspired Zwi Griliches and Dave W. Jorgensen325 to try to improve the capital measurements. Another important contribution was made by Denison326 who tried to incorporate a measurement of the improvement in labour quality. This period of rapid development of the neoclassical growth theory and use of the Growth Accounting technique lost momentum due to researchers’ increasing interest in short term questions, a lack of adequate data and the fact that growth was treated as exogenous in the neoclassical word, so these theories could not explain growth in itself. 


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