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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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Trade and productivity

Economic theory suggests that more open countries should grow faster and have higher income levels than less open ones. International trade enables firms to specialise in goods and services that can be most efficiently produced in the home country. Trade may enable firms to sell to larger markets, hence exploiting economies of scale. Trade also puts pressure on prices for final goods and intermediate inputs and increases international fragmentation of production processes, further reducing costs. Finally, firms exposed to international competition are continuously forced to innovate in order to succeed.

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