A Reappraisal of Verdoorn’s Law for the Italian Economy, 1951–1997

Carluccio Bianchi

Chapter 5 in Productivity Growth and Economic Performance, 2002, pp 115-135 from Palgrave Macmillan

Abstract: Abstract Verdoorn’s Law postulates the existence of a significant positive relationship between the growth rate of labour productivity and that of output, at least in manufacturing. The relationship is generally interpreted to be of a technological nature, reflecting the existence of both static and (mainly) dynamic economies of scale and thus the presence of increasing returns to scale.

Keywords: Labour Productivity; Productivity Growth; Capital Stock; Structural Break; Constant Return (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50423-3_5

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DOI: 10.1057/9780230504233_5

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