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.


Research and Development as a Value Creating Asset

In the current environment of rapid technological change, research and development (R&D) has proven to be an important element of economic growth. R&D is considered one of a number of measures of innovation performance and various studies have shown that investment in R&D is an important source of productivity growth (for example Griliches, 1981). R&D investment reduces production costs, as inputs are more effectively transformed in to outputs, and it alters output characteristics, thereby providing new products to the marketplace (Bernstein and Mamuneas, 2004). As a result, the promotion of investment in R&D has become a priority within the EU.


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