期刊名称：Departmental Discussion Papers / University of Glasgow, Department of Economics
出版年度：2000
卷号：1
出版社：University of Glasgow, Department of Economics
摘要：In this paper we present several new measures of gross-output-based total factor (multifactor)
productivity (TFP) at the sectoral level for manufacturing industries in the G7
economies. We calculate measures of both total factor productivity growth and
comparative productivity levels. These are obtained by combining conventional OECD
sectoral data on labour and capital inputs with data on intermediate inputs from national
input-output tables. Additionally, we derive cyclically corrected measures of TFP growth
that avoid the distortions contained in traditional measures of productivity growth.
Consequently we argue that our measures provide a more accurate description of the
underlying rate of productivity growth in the G7 economies. Our evidence shows little
convergence of productivity in other G7 countries to US levels. A key conclusion from
the UK’s perspective is that in manufacturing, the productivity gap with other major
industrialised countries, especially the USA and Germany, is bigger than has been
reported in other recent studies (O’Mahony, 1999, HM Treasury, 2000).
