Measurement and Analysis of Productivity Growth: A Synthesis of Thought

摘要

Productivity is one of the most important factors influencing our economic wellbeing. Productivity growth is essential to a higher standard of living and is vital to a sound economic and political environment. However, there has been a slowdown in the growth of productivity in the United States since the mid-1960s. This slowdown has caused concern among policy makers and researchers. Accordingly, several questions persist both in policy and academic circles. Why has productivity been slowing; and What can be done to reverse this trend. The purpose of this report is to address broadly the first of these two questions by surveying and synthesizing the vast literature on the measurement and determinants of productivity. This review is intended to be a source document for those interested in the measurement and analysis of productivity growth.