Does Technological Diffusion Explain Australia's Productivity Performance?

44 Pages Posted: 25 Jan 2008

See all articles by Thierry Tressel

Thierry Tressel

International Monetary Fund (IMF) - Research Department

Date Written: Janurary 2008

Abstract

This paper analyzes the impact of product and labor market policies on technological diffusion and multi-factor productivity (MFP) in a panel of industries in 15 OECD countries over the period 1980 to 2003, with a special focus on Australia. We use a simple convergence empirical framework to show that, on average, convergence of MFP within industries across countries has slowed-down in the 1990s. In contrast, Australian industries have significantly caught-up with industry productivity best practices over the past 16 years, and have benefited from the diffusion of Information and Communication Technologies (ICTs). We show that reforms of both the labor and product markets since the early 1990s can explain Australia's productivity performance and adoption of ICTs.

Keywords: Productivity, Australia, Labor markets

Suggested Citation

Tressel, Thierry, Does Technological Diffusion Explain Australia's Productivity Performance? (Janurary 2008). IMF Working Papers, Vol. , pp. 1-42, 2008. Available at SSRN: https://ssrn.com/abstract=1087183

Thierry Tressel (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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