Diagnosis and policy action for sustainable and inclusive productivity growth

Won Hee Cho, Chiara Criscuolo, Isabelle Desnoyers-James, Martin Reinhard and Rudy Verlhac

No 2024/7, OECD Science, Technology and Industry Working Papers from OECD Publishing

Abstract: The global productivity slowdown, characterised by a widespread deceleration in aggregate productivity growth rates, is a prevailing concern for policy makers and academics. In this context, this report summarises evidence on productivity growth and business dynamics, highlighting long-term trends and their drivers, as well as insights specific to the COVID-19 period, with relevant implications for future productivity and innovation. It underscores the role of productivity for employment and wages, and discusses challenges related to the digitalisation of the economy and the green transition. Additionally, it considers how the resurgence of industrial policies necessitates additional analysis to measure and coordinate government action.

Keywords: Artificial intelligence; Business dynamism; COVID-19; Diffusion; Employment; Industrial policy; Innovation; Labour share; Productivity; Technological change (search for similar items in EconPapers)
JEL-codes: J30 L10 L52 O25 O30 O33 (search for similar items in EconPapers)
Date: 2024-10-16
New Economics Papers: this item is included in nep-cse, nep-eff, nep-env, nep-ino, nep-lma and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:oec:stiaaa:2024/7-en

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