OECD Compendium of Productivity Indicators 2016 (eBook)

Oecd (Autor)

eBook Download: EPUB

2016 | 1. Auflage
130 Seiten
OECD Publishing (Verlag)
978-92-64-25822-8 (ISBN)

Infos

The publication presents a comprehensive overview of recent and longer term trends in productivity levels and growth in OECD and some G20 countries. The statistics presented include measures of labour productivity, capital productivity and multifactor productivity, as well as indicators of international competitiveness.

Inhalt

Foreword 5
Table of contents 7
Executive summary 11
Reader’s guide 13
Chapter 1. Measuring productivity 17
The productivity slowdown and paradox 18
Figure 1.1. Growth in labour productivity in advanced economies since 1970 19
Figure 1.2. Labour productivity levels in advanced economies 19
Box 1.1. Explaining the paradox? 19
The current slowdown is not a recent affair 18
Figure 1.3. Trend labour productivity growth in G7 countries 21
Figure 1.4. Labour productivity growth, capital deepening and MFP in G7 countries 23
And the contribution from investment in ICT has slowed significantly 22
Figure 1.5. Contribution of ICT capital deepening to labour productivity growth 24
Figure 1.6. Share of ICT investment 24
Although the slowing contribution from ICT may reflect increased investment in other knowledge-based assets 22
Figure 1.7. Business investment in fixed and knowledge-based capital, selected economies, 2013 25
Box 1.2. Productivity and skills mismatch 25
But increased investment in other knowledge-based assets only adds to the paradox 22
Productivity growth has slowed despite rising participation in global value chains 26
Figure 1.8. Foreign value added share of gross exports 26
Figure 1.9. Integration in GVCs and productivity 27
And the slowdown is not confined to developed economies 27
Figure 1.10. Labour productivity levels in emerging economies 27
Figure 1.11. Labour productivity growth in emerging economies 28
Sluggish business dynamism adds further concerns to productivity growth 28
Figure 1.12. Labour productivity growth and business dynamism 28
Figure 1.13. Start-up rates, total business economy 29
Figure 1.14. Churn rates, employer enterprises, total business economy 29
Figure 1.15. Labour productivity by firm size 30
Current challenges in productivity measurement 30
Labour 31
Figure 1.16. Labour productivity growth, 2009-14 31
Figure 1.17. Growth in labour input, United Kingdom 32
Capital 32
Output 34
Going forward 36
Sources and further reading 37
Chapter 2. 
39 
Size of GDP 40
Key facts 40
Definitions 40
Comparability 40
Figure 2.1. Gross domestic product, current PPPs and current exchange rates 41
Figure 2.2. Growth in gross domestic product 41
Figure 2.3. GDP per capita 41
Sources and further reading 40
Growth in GDP per capita 42
Key facts 42
Definitions 42
Comparability 42
Figure 2.4. Contributions to growth in GDP per capita 43
Gaps in GDP per capita 44
Key facts 44
Definition 44
Comparability 44
Figure 2.5. GDP per capita convergence 45
Figure 2.6. Differences in GDP per capita levels, 2014 45
Sources and further reading 44
Labour productivity 46
Key facts 46
Definition 46
Comparability 46
Figure 2.7. Labour productivity, 2014 47
Figure 2.8. Growth in labour productivity 47
Sources and further reading 46
Alternative measures of labour productivity 48
Key facts 48
Definition 48
Comparability 48
Figure 2.9. GDP per hour worked and GDP per person employed, 2014 49
Figure 2.10. Growth in GDP per hour worked and growth in GDP per person employed, 2001-14 49
Sources and further reading 48
Alternative measures of income 50
Key facts 50
Definition 50
Comparability 50
Figure 2.11. GDP and GNI per hour worked, 2014 51
Figure 2.12. Growth in GDP per hour worked and growth in GNI per hour worked 51
Sources and further reading 50
Capital productivity and the role of ICT and intangible assets 52
Key facts 52
Definition 52
Figure 2.13. Growth in capital productivity 53
Figure 2.14. Contributions of ICT and non-ICT capital to total capital services 53
Comparability 52
Figure 2.15. Share of ICT investment 54
Figure 2.16. Share of investment in intellectual property products 54
Figure 2.17. Growth rate of investment in tangible assets and intellectual property products 55
Figure 2.18. Gross fixed capital formation by asset type, 2014 55
Sources and further reading 52
Growth accounting 56
Key facts 56
Definition 56
Comparability 56
Figure 2.19. Contributions to GDP growth 57
Sources and further reading 56
Multifactor productivity 58
Key facts 58
Definition 58
Comparability 58
Figure 2.20. Multifactor productivity growth 59
Figure 2.21. Contributions to labour productivity growth 59
Sources and further reading 58
Chapter 3. 
61 
Labour productivity by main economic activity 62
Key facts 62
Definition 62
Comparability 62
Figure 3.1. Labour productivity by main activity 63
Sources and further reading 62
Industry contribution to business sector productivity 64
Key facts 64
Definition 64
Comparability 64
Figure 3.2. Industry contribution to business sector productivity growth 65
Sources and further reading 64
Labour productivity of business sector services 66
Key facts 66
Definition 66
Comparability 66
Figure 3.3. Labour productivity by business sector services 67
Sources and further reading 66
Contributions to business sector services’ productivity 68
Key facts 68
Definition 68
Comparability 68
Figure 3.4. Contributions to productivity growth of business sector services 69
Sources and further reading 68
Productivity by enterprise size 70
Key facts 70
Definition 70
Comparability 70
Figure 3.5. Labour productivity by firm size, manufacturing 71
Figure 3.6. Labour productivity by firm size, services 72
Figure 3.7. Start-up rates and labour productivity growth 73
Figure 3.8. Churn rates and labour productivity growth 73
Sources and further reading 70
Chapter 4. 
75 
Unit labour costs 76
Key facts 76
Definition 76
Comparability 76
Figure 4.1. Unit labour costs, hourly labour compensation and productivity, total economy 77
Figure 4.2. Unit labour costs, hourly labour compensation and productivity, manufacturing 78
Figure 4.3. Unit labour costs, hourly labour compensation and productivity, business sector services 79
Sources/online databases 76
International competitiveness 80
Key facts 80
Definition 80
Comparability 80
Figure 4.4. Indicators of international competitiveness 81
Sources and further reading 80
The importance of global value chains 82
Key facts 82
Definition 82
Comparability 82
Figure 4.5. Trade openness and GDP per capita vis-à-vis the OECD, 2014 83
Figure 4.6. Change in exports to GDP ratio and growth in GDP per hour worked 83
Sources and further reading 82
Chapter 5. 
85 
Trends in labour productivity growth 86
Key facts 86
Definition 86
Comparability 86
Figure 5.1. Trend labour productivity growth in G7 countries 87
Sources and further reading 86
Trends in multifactor productivity and capital deepening 88
Key facts 88
Definition 88
Comparability 88
Figure 5.2. Labour productivity growth trend and its components, Canada 89
Figure 5.3. Labour productivity growth trend and its components, France 90
Figure 5.4. Labour productivity growth trend and its components, Germany 91
Figure 5.5. Labour productivity growth trend and its components, Italy 92
Figure 5.6. Labour productivity growth trend and its components, Japan 93
Figure 5.7. Labour productivity growth trend and its components, United Kingdom 94
Figure 5.8. Labour productivity growth trend and its components, United States 95
Sources and further reading 88
Multifactor productivity over the cycle 96
Key facts 96
Definitions 96
Comparability 96
Figure 5.9. Contributions to GDP growth over time in G7 countries 97
Sources and further reading 96
Annex A. Productivity measures 101
Productivity measures for the total economy 101
Labour input 101
Capital input 101
Cost shares of inputs 102
Labour productivity 103
Multifactor productivity 103
Contributions to GDP growth 104
Contributions to labour productivity growth 104
Unit labour costs and their components 104
Productivity measures at industry level 105
Labour input 105
Labour productivity 105
Contributions to labour productivity growth 105
Unit labour costs and their components 106
References 106
Annex B. 
107 
Hours worked for productivity analysis – main definitions 107
Table B.1. Relationship between different concepts of hours worked 107
Measuring hours worked 108
Hours worked data in the OECD Productivity Statistics (database) (PDB) 109
References 110
Annex C. 
111 
Introduction 111
Definitions 111
Productive capital stock (and capital services) 111
Net and gross (wealth) capital stocks 111
Measuring capital input 112
Capital measures in OECD statistics 112
Table C.1. Asset and industry breakdown of capital stock data in OECD databases 112
Capital services for the total economy, 8-way asset break down 113
Net and gross capital stocks by broad economic activities, with 9-way asset break-down 113
Net and gross capital stocks by detailed industries, no asset break-down 113
Alternative capital stocks, for the total economy, no asset break-down 113
How to access OECD capital input measures 113
Notes 114
References 114
Annex D. 
115 
The 2008 SNA – changes from the 1993 SNA 115
Changes affecting whole economy levels of income 115
Research and experimental development 115
Weapons systems 116
Financial Intermediation Services Indirectly Measured (FISIM) 116
Financial services 116
Output of Central Banks 116
Output of non-life insurance services 116
Valuation of output for own final use 116
Costs of ownership transfer 117
Re-allocating income across categories 117
Goods sent abroad for processing 117
Merchanting 117
Defined benefit pension schemes 117
Ancillary activities 118
Holding companies 118
Exceptional payments from public corporations 118
Exceptional payments from governments to quasi-public corporations 118
References 118
Annex E. 
119 
The price index-productivity link 119
General measurement issues when tracking price changes for services 119
Pricing methods 119
Quality changes 120
Treatment of bundled services 120
Decomposition by type of end-users 121
The potential role of price measurement for measured productivity growth 121
Table E.1. Average annual growth rates in gross value added per person employed using different deflators of value added, in % 122
Notes 122
References 122
Annex F. 
123 
Definition 123
Current PPPs and expenditures (comparison at current international prices) 123
Constant PPPs and expenditures (comparison at constant international prices) 123
How are PPPs calculated? 124
References 125
Annex G. 
127 
The Hodrick-Prescott filter 127
References 128

Produkt-Details

• Erscheint lt. Verlag: 26.5.2016
• Sprache: englisch
• Themenwelt: Technik
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• ISBN-10: 92-64-25822-1 / 9264258221
• ISBN-13: 978-92-64-25822-8 / 9789264258228