Special Issue on Productivity Growth

摘要

Productivity growth is of central interest to economists and policy makers alike. Simply speaking, productivity is a key determinant of a nation's wealth and competitiveness in the global market place. It reflects how effectively labor and capital are utilized in production, and how efficiently inputs are transformed into outputs. The origins of productivity analysis date back to 1957, when Robert Solow's growth accounting exercise revealed the surprising result that the lion's share of US economic growth was driven by productivity growth and not capital or labor.