América Latina: las perspectivas económicas repuntan levemente pero se requieren reformas para impulsar la productividad y disminuir desigualdades

Alvaro S. Pereira (Director) y mesas de países latinoamericanos, Departamento de Economía, Directorado de estudios de países, OCDE Hace un año, la OCDE advirtió sobre el riesgo que las incertidumbres comerciales y políticas dañen de manera significativa la economía mundial y contribuyan aún más a la creciente división entre la gente. Un año después, el … More América Latina: las perspectivas económicas repuntan levemente pero se requieren reformas para impulsar la productividad y disminuir desigualdades

Are digital technologies the new Holy Grail ?

By Stéphane Sorbe, Peter Gal, Giuseppe Nicoletti and Christina Timiliotis Digital innovations are everywhere, in our pockets, cars and homes. However, while digital technologies seem to offer great potential to enhance firm productivity, productivity growth has slowed sharply in most OECD countries over the past two decades (Figure 1). One explanation to this puzzle is … More Are digital technologies the new Holy Grail ?

Statistical insights: Are international productivity gaps as large as we thought?

by Nadim Ahmad, OECD Statistics and Data Directorate Labour productivity is a key indicator of economic wellbeing, and raising it – producing more goods and services from the same or less work (labour input) – is one of the main drivers of sustainable economic growth. Historically, comparisons of productivity across countries have shown substantial gaps, … More Statistical insights: Are international productivity gaps as large as we thought?

The output cost of the global financial crisis

By David Turner and Patrice Ollivaud, OECD Economics Department Assessing the damage from the Global Financial Crisis (GFC) is not straightforward, even with the benefit of hindsight provided by ten years of history, because the counter-factual of what might have happened in its absence is unknowable. However, a simplistic, but commonly adopted approach, of comparing … More The output cost of the global financial crisis

The UK productivity puzzle through the magnifying glass: A sectoral perspective

Rafał Kierzenkowski, Gabriel Machlica and Gabor Fulop, Economics Department. Labour productivity has flatlined since the global financial crisis, which contrasts with its recovery profiles from past recessions over the last decades (Figure 1).  The productivity shortfall, defined as the gap between actual productivity and the level implied by its pre-crisis trend growth rate, reached nearly 20% … More The UK productivity puzzle through the magnifying glass: A sectoral perspective

Unblocking the productivity potential of local businesses in Ireland

By Yosuke Jin and Ben Westmore, Ireland Desk, OECD Economics Department. Irish GDP growth made headlines recently due to enormous upward revisions (e.g. + 25.6% for the sole year of 2015) related to the activities of a small group of multinationals. This raises the question of how much Irish productivity relies on multinational companies alone. … More Unblocking the productivity potential of local businesses in Ireland

Thailand 4.0: boosting productivity

By Hidekatsu Asada, Head of South East Asia Desk, Economics Department. Thailand has made commendable socio-economic progress since the 1970s and has set itself the goal of joining the group of high-income countries by 2036. To make that happen, the government has spelled out a Thailand 4.0 vision that involves a transformation to a more … More Thailand 4.0: boosting productivity

Mind the gaps: boosting productivity and reducing inequality in Chile

Antoine Goujard and Paula Garda, OECD Economics Department, Chile/Colombia desk Chile has been one of the fastest-growing economies in the OECD in recent decades. Sound macroeconomic management, bold structural reforms, such as trade and investment liberalisation, and buoyant natural-resource sectors, supported fast convergence in living standards (Panel A). However, progress has slowed: declining productivity gains … More Mind the gaps: boosting productivity and reducing inequality in Chile

Switzerland’s productivity puzzle: Being a leader and an underperformer

by Patrice Ollivaud, Economist, Switzerland Desk, OECD Economics Department Switzerland is among the leaders in many global rankings including on R&D, innovation, infrastructure, universities and competitiveness. It is well integrated in global value chains, specialised in some high-value-added activities and home of many large multinationals. These factors should contribute to high, and rising, labour productivity. … More Switzerland’s productivity puzzle: Being a leader and an underperformer

Zombie firms and weak productivity: what role for policy?

by Dan Andrews, Müge Adalet McGowan and Valentine Millot, Productivity Workstream, OECD Economics Department Weak productivity growth is a major problem afflicting our societies. It curbs growth in incomes and endangers the sustainability of our social security systems. An important, but often ignored, source of the productivity slowdown is the increasing prevalence of weakly productive firms … More Zombie firms and weak productivity: what role for policy?