The Australian multi-factor productivity growth illusion

John Foster ()

No 520, Discussion Papers Series from University of Queensland, School of Economics

Abstract: Multi-factor productivity growth is widely discussed in the media and among policymakers in Australia. Over the past decade it has been predominantly negative often leading to the view that there is a ‘productivity crisis.’ It is shown that such a measure is wholly misleading. Preliminary econometric investigation suggests that it is economies of scale and scope that are the primary drivers of productivity growth in Australia. However, much more research needs to be undertaken, with the inter-related processes of innovation and entrepreneurship at its core, before any new policies to promote productivity growth are designed and implemented.

Date: 2014-05-08
New Economics Papers: this item is included in nep-cse, nep-eff and nep-tid
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Related works:
Journal Article: The Australian Multi-Factor Productivity Growth Illusion (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:qld:uq2004:520

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