The Global Productivity Slump: Common and Country-Specific Factors

被引：9

作者：

Eichengreen, Barry ^{[1
]}

Park, Donghyun ^{[2
]}

Shin, Kwanho ^{[3
]}

机构：

[1] Univ Calif Berkeley, Dept Econ, Berkeley, CA 94720 USA

[2] Asian Dev Bank, Econ Res & Reg Cooperat Dept, 6 ADB Ave, Mandaluyong City 1550, Metro Manila, Philippines

[3] Korea Univ, Dept Econ, 5-1 Anam Dong, Seoul 136701, South Korea

来源：

ASIAN ECONOMIC PAPERS | 2017年 / 16卷 / 03期

基金：

新加坡国家研究基金会;

关键词：

GROWTH; SLOWDOWN; STATES; ASIA;

D O I：

10.1162/ASEP_a_00544

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Productivity growth is slowing around the world. In 2015, the growth of total factor productivity (TFP) hovered around zero for the fourth straight year, down from 1 percent in 1996-2006 and 0.5 percent in 2007-12. In this paper we identify previous episodes of sharp and sustained decelerations in TFP growth using data for a large sample of countries and years. TFP slumps are ubiquitous: We find as many as 77 such episodes, depending on definition, in low-, middle- and high-income countries. Low levels of educational attainment and unusually high investment rates are among the significant country-specific correlates of TFP slumps, and energy-price shocks are among the significant global factors.

引用

页码：1 / 41

页数：41

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