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OECD Compendium of Productivity Indicators 2015

image of OECD Compendium of Productivity Indicators 2015

Productivity is a key source of economic growth and competitiveness. The OECD Compendium of Productivity Indicators 2015 presents a comprehensive overview of recent and longer term trends in productivity levels and growth in OECD countries. It also highlights key measurement issues faced when compiling cross-country comparable productivity indicators.

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Multifactor productivity

Multifactor productivity (MFP) reflects the overall efficiency with which labour and capital inputs are used together in the production process. Labour productivity growth represents a higher level of output for every hour worked. This can be achieved if more capital, such as machinery or software or better vintages of it (capital deepening) is used in production, or by improving the overall efficiency with which labour and capital are used together, i.e. higher MFP.

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