OECD Compendium of Productivity Indicators 2019

image of OECD Compendium of Productivity Indicators 2019

This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries. An introductory chapter features an analysis of latest developments in productivity, employment and wages.


The importance of global value chains

Economic theory suggests that countries more open to international trade 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; to sell to larger markets, hence exploiting economies of scale; and to benefit from higher quality and variety of inputs as well as technological spillovers and knowledge exchange. Trade also puts pressure on prices for final goods and intermediate inputs and facilitates international fragmentation of production processes, further reducing costs. Firms exposed to international competition ought to innovate continuously in order to succeed.



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