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Economic Growth in the OECD Area: Recent Trends at the Aggregate and Sectoral LevelStefano ScarpettaOECD, Directorate for Employment, Labour and Social Affairs; World Bank - Social Protection Unit (HDNSP); Institute for the Study of Labor (IZA) Andrea BassaniniOrganization for Economic Co-Operation and Development (OECD); Université d' Evry - Centre D'Etudes des Politiques Economiques et de L'Emploi (EPEE) Dirk PilatOrganization for Economic Co-Operation and Development (OECD) - Economics Department (ECO) Paul SchreyerOrganization for Economic Co-Operation and Development (OECD) - National Accounts and Structural Economic Statistics Division June 2000 OECD Economics Department Working Paper No. 248 Abstract: This paper discusses growth performance in the OECD countries over the past two decades. Special attention is given to developments in labour productivity, allowing for human capital accumulation, and multifactor productivity (MFP), allowing for changes in the composition and quality of physical capital. The paper suggests wide (and growing) disparities in GDP per capita growth, while differences in labour productivity have remained broadly stable. These patterns are explained by different employment growth rates across countries. In the most recent years, a rise in MFP growth in ICT-related industries has boosted aggregate growth in some countries (e.g. the United States).
Number of Pages in PDF File: 130 JEL Classification: N10, O47 working papers seriesDate posted: October 18, 2000Suggested CitationContact Information
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