Productivity Growth and Economic Performance: Essays on Verdoorn’s Law

2005 ◽  
Vol 115 (501) ◽  
pp. F138-F140
Author(s):  
Gilberto Libanio
Keyword(s):  
Economic Performance ◽  
Productivity Growth ◽  
Verdoorn's Law

Economic Performance Under Labour

2010 ◽  
Vol 212 ◽  
pp. R2-R14 ◽  
Author(s):  
Iana Liadze ◽  
Martin Weale
Keyword(s):  
Economic Growth ◽  
Labour Market ◽  
Economic Performance ◽  
Productivity Growth ◽  
Market Performance ◽  
National Income ◽  
The Other ◽  
The Uk ◽  
Sustainable Economic Growth ◽  
Growth Economic

This article compares the performance of the UK economy since 1997 with that between 1979 and 1997 and with the performance of the other G7 economies in both periods. It concludes that Britain has done relatively well in terms of productivity growth, economic growth and national income per head but not very well in terms of labour market performance. Savings rates were too low to deliver sustainable economic growth over the period 1979–97 and there has been very little improvement since then. The performance of the economy during the recession and its immediate aftermath has been disappointing relative to the other G7 economies.

Kaldor-Verdoorn's law and increasing returns to scale

2014 ◽  
Vol 41 (1) ◽  
pp. 140-162 ◽  
Author(s):  
Emanuele Millemaci ◽  
Ferdinando Ofria
Keyword(s):  
Productivity Growth ◽  
Economies Of Scale ◽  
Returns To Scale ◽  
Labor Cost ◽  
Increasing Returns ◽  
Content Type ◽  
Increasing Returns To Scale ◽  
Capital Growth ◽  
Cost Growth ◽  
Verdoorn's Law

Purpose – The aim of this study is to investigate the validity of the Kaldor-Verdoorn's law in explaining the long-run determinants of the labor productivity growth for the manufacturing sector of some developed economies (Western European Countries, Australia, Canada, Japan and the USA). Design/methodology/approach – The authors consider the period 1973-2006 using data provided by the European Commission – Economics and Financial Affairs. The method is instrumental variable. The robustness of estimates is checked by means of the Chow and the CUSUM and CUSUMQ tests. The authors consider the traditional specification of the dynamic Verdoorn law and the one which also includes investment to output ratio (I/Y), as a proxy of the capital growth rate, and the average labor cost growth, as a proxy of supply factors. Findings – The findings suggest that the law is valid for the manufacturing as countries show increasing returns to scale. Capital growth and labor cost growth do not appear important in explaining productivity growth. The estimated Verdoorn coefficients are found to be substantially stable throughout the period. Originality/value – The authors consider the most recent years, which has been characterized by a constant decline in the average GDP growth rates; a productivity growth decline; the long-term reduction in the manufacturing share of total employment. The authors examine the importance of alternative hypotheses such as those related to the existence of supply constraints. The authors check the stability of the KVL throughout the period under the consideration and across countries. The authors evaluate whether, in the case of the developed countries, economies of scale are significant.

scholarly journals Germany

2019 ◽  
Vol 19 (213) ◽  
pp. 1
Author(s):  
Keyword(s):  
Economic Performance ◽  
Productivity Growth ◽  
Binding Capacity ◽  
Capacity Constraints ◽  
External Factors ◽  
Medium Term ◽  
Public And Private ◽  
Balance Sheets ◽  
The Past ◽  
Global Demand

Germany’s economic performance has been strong for the past decade, but external factors and structural challenges are now weighing on growth. The export-dependent economy has been hit by the recent slowdown in global demand, while medium-term growth is expected to fall due to low productivity growth and adverse demographics. External imbalances remain large, partly reflecting rising top income inequality, macro-financial vulnerabilities are rising, and the financial sector continues to suffer from weak profitability. Still, fundamentals are sound, with public and private balance sheets remaining healthy, and the unemployment rate at record lows. Inflation is subdued, but wage growth is continuing to pick up, reflecting the strength of the labor market and increasingly binding capacity constraints.

scholarly journals Globally Trading Firms in Canada: Productivity and Global Value Chains

2021 ◽  
Vol 22 (1) ◽  
pp. 1-24
Author(s):  
Ram C. Acharya
Keyword(s):  
Economic Performance ◽  
Productivity Growth ◽  
Labour Productivity ◽  
Global Value Chains ◽  
Value Chains ◽  
Business Sector ◽  
Firm Level ◽  
Labour Productivity Growth ◽  
Level Data ◽  
Capital Intensive

Using firm-level data in Canada from 2002 to 2008, I compare the economic performance of three types of firms: those that both export and import (called globally trading firms—GTFs), exporters-only, and importers-only. The results show that GTFs are more productive, larger, more capital intensive, pay higher wages, trade more goods, and trade with more countries than both types of one-way traders. These premia for GTFs were found even before they turned into GTFs (self-selection). Moreover, even after turning into GTFs, the productivity growth of a subset of them was faster than that of one-way traders. The higher the involvement in global value chains (GVCs), the higher was the performance of the “learning-by-turning GTFs”. The GTFs with higher productivity growth were the ones that imported from multiple countries, not those that imported only from China. By another measure, they were both-in-both GTFs—those that traded both final and intermediate goods, and in both directions (exports and imports). Even though they employed only 10% of Canada’s business sector workforce, they contributed 60% of its labour productivity growth.

Self-Selection and Learning by Exporting from Indian Manufacturing Firms

2015 ◽  
Vol 6 (4) ◽  
pp. 27-43
Author(s):  
Manoj Kumar ◽  
Jyoti Raman ◽  
Priya Singh
Keyword(s):  
Total Factor Productivity ◽  
Economic Performance ◽  
Productivity Growth ◽  
Manufacturing Firms ◽  
Previous Literature ◽  
Sampling Techniques ◽  
Time Varying ◽  
Factor Productivity ◽  
Self Selection ◽  
Learning By Exporting

Following a growing literature, the authors test in this work the two hypotheses of self-selection and learning by exporting across different Indian manufacturing firms. Using matched sampling techniques, they estimate whether export-oriented firms are more efficient than non-exporters on the basis of the Indian Surveys of manufacturing firms for the period 2005-2013. The findings indicate that export entrants increase their productivity after entry but this increase is only temporary. In fact, the authors document a time-varying relationship between export participation and economic performance. This occurs for both total-factor productivity (TFP) and productivity growth. These results are consistent with those found in the previous literature for many countries. The only lasting significant effect that we find among the different measures of performances between exporters and non-exporters is that the former generates higher profits than their domestic counterparts.

Sign in / Sign up

Export Citation Format

Share Document