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.


Estimates of Labor and Total Factor Productivity by 72 Industries in Korea (1970–2003)

In recent years, especially since the 1997 economic crisis in the East Asian countries including Korea, considerable changes have taken place in the Korean economy, such as investment stagnation (see e.g. Pyo (2006) Pyo and Ha (2005)), changes in production input patterns, and so on. One of the most important changes is the demand for high productivity, which would compensate the recent slowdowns of growth rates in capital and labor inputs. As Krugman (1994), Young (1994), and Lau and Kim (1994) showed, the East Asian economic miracle may be summarized as `input-led’ growth. Korea was no exception in this respect of growth pattern. 


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