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OECD Compendium of Productivity Indicators 2021

image of OECD Compendium of Productivity Indicators 2021

This Webbook provides a set of cross-country comparable statistics on labour productivity levels, the contributions of labour, capital services and multifactor productivity (MFP) to GDP growth, industry contributions to labour productivity growth, labour productivity gaps between SMEs and large firms, the evolution and composition of investment, the decoupling between real wages and productivity, and labour income share developments. It also includes a special chapter on productivity measurement and analysis at the time of the COVID-19 pandemic.

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Productivity in SMEs and large firms

Focusing on relatively aggregated industries can mask the heterogeneity in productivity among firms within the same industry and, in particular, the contribution of small and medium-sized enterprises (SMEs). In a number of countries, a fat tail of low-productivity firms (composed in large part of small firms) co-exists with large firms, which are very productive and exposed to international competition. To the extent that large firms can exploit increasing returns to scale, productivity tends to increase with firm size. However, new small firms are often found to spur aggregate productivity growth as they enter with new technologies and stimulate productivity-enhancing changes by incumbents.

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