Productivity Increase (Growth) in the Service Sector

Hasan Gürak

Chapter Chapter 5 in The Economic Value of Creative Mental Labor, 2024, pp 65-74 from Springer

Abstract: Abstract The difference between physical and nonphysical goods should be self-evident. Physical products (commodities) can be stored, transported, or accumulated. “Services,” on the other hand, are the products that are consumed during or right after the production process and cannot be stored, transported, or accumulated. The services sector has been continuously growing in both developed and developing countries. This is evident in terms of employment and GDP growth. This means that the industrial and agricultural sectors have been declining in relative terms. Can we measure productivity increases, that is, economic growth, in the services sector in the same way we do in the physical goods producing sectors? Can we use the same criteria for both? What are the similarities and differences between these two sectors?

Keywords: Service sector; Productivity; Productivity increase; Technological innovations (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-70110-8_5

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DOI: 10.1007/978-3-031-70110-8_5

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