Productivity and Tertiarization in Industrialized Countries. A Comparative Analysis

Andrés Maroto-Sánchez and Juan Cuadrado-Roura ()

No 2007/05, Efficiency Series Papers from University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG)

Abstract: The low productivity growth in many advanced economies has traditionally been associated to some structural changes they undergo. Concretely, conventional theories stressed a negative role to the performance and high incidence of services in these economies. Nevertheless, the latest empirical work shows that several serviceactivities have registered similar or even higher productivity growth rates than ones in the most dynamic manufacturing industries, while their contribution to the growth ofoverall productivity plays a more important role than was historically believed. This article endeavours to analyse how the growth of services in advanced economies influences the aggregate productivity, both from a theoretical and an applied point of view. A decomposition analysis has been applied in order to break down the effect ofthe structural changes on the growth of overall productivity. Subsequently, the effect of the growth of services on the productivity growth of the advanced economies is contrasted econometrically.

Keywords: Tertiarization; Productivity; Structural Change (search for similar items in EconPapers)
Pages: 28
Date: 2007
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Citations: View citations in EconPapers (2)

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