The Source of Economic Growth in OECD Countries: A Review Article

Martin Neil Baily ()

International Productivity Monitor, 2003, vol. 7, 66-70

Abstract: In early 2003, the OECD released a major report entitled The Sources of Growth in OECD Countries. In the seventh and final article, Martin Neil Baily from the Institute for International Economics, and former Chairman of the U.S. Council of Economic Advisers reviews the report. Baily notes that key findings include: the diversity in GDP per capita growth across OECD countries, largely reflecting differences in labour utilization; the importance for growth of exposure to international trade, sound macro policies and investment in physical and human capital; and the high returns to growth from business sector R&D activities, in contrast to a lack of any positive effect from government R&D. Baily observes that the report fails to discuss ways to improve employment growth, concluding that combining full employment with high productivity is the key challenge currently facing policymakers.

Keywords: Sources; Growth; Firm Dynamics; Industry; Econometric Growth Model; Europe; United States; Survival; Initial Size; Regulation (search for similar items in EconPapers)
JEL-codes: E62 J23 O40 O57 (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.csls.ca/ipm/7/bailyreview-e.pdf (application/pdf)
http://www.csls.ca/ipm/7/bailyreview-f.pdf version en francais, pp:77-82 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sls:ipmsls:v:7:y:2003:8

Ordering information: This journal article can be ordered from
http://www.csls.ca

Access Statistics for this article

International Productivity Monitor is currently edited by Andrew Sharpe, Executive Director

More articles in International Productivity Monitor from Centre for the Study of Living Standards 170 Laurier Ave. W, Suite 604, Ottawa, ON K1P 5V5. Contact information at EDIRC.
Bibliographic data for series maintained by CSLS ( this e-mail address is bad, please contact ).