Does technological diffusion explain Australia's productivity performance? / / prepared by Thierry Tressel

• Record Nr.: UNINA9910810744103321
• Autore: Tressel Thierry
• Pubbl/distr/stampa: Washington, D.C., : International Monetary Fund, Research Dept., 2008
• ISBN: 1-4623-0939-9; 1-4527-1277-8; 1-283-51301-3; 9786613825469; 1-4519-1319-2
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (44 p.)
• Collana: IMF working paper ; ; WP/08/4
• Disciplina: 338.900153535
• Soggetti: Industrial productivity - Australia - Econometric models; Technological innovations - Australia - Econometric models; Manpower policy - Australia - Econometric models
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "January 2008."
• Nota di bibliografia: Includes bibliographical references (p. 24-27).
• Nota di contenuto: Contents; I. Introduction; II. Productivity Performance and Reforms in Australia; A. Australian Productivity Performance since 1990: Key Facts; Figures; 1. Australia's Productivity Performance; 2. Investments in Information and Communication Technologies; 3. Sectoral Contributions to Real GDP Growth; B. The Reform Process in Australia; 4. Employment Protection Legislations in OECD Countries; III. Empirical Model and Data Description; A. Theory; 5. Product Market Reforms in Australia; B. Empirical Specification; C. The Long-Run Impact of Covariates X on MFP and Capital-Labor Ratio Levels; D. Data Sources and Methodology Tables; 1. Sectoral Decomposition; E. Growth Accounting; F. Level Accounting; G. Exchange Rates for International Comparisons; IV. Empirical Analysis; A. A First Look at the Data; B. Regression Results; C. Robustness Tests; D. Do Reforms Explain Australia's Productivity Performance?; E. Other Determinants of MFP Convergence: the Role of Human Capital and R&D ..; V. Conclusion; References; 2. Summary Statistics (1980-2003); 3. Correlations; 4. Multi-Factor Productivity Leaders; 6. Australian Industries MFP Levels ; (relative to U.S.); 5. Convergence of Australian Industries' Technology Level in a Panel of OECD Countries 6. Impact of Product Market Regulations of MFP Growth; 7. Impact of Labor Market Institutions on MFP Growth; 8. Disentangling the Effects of Product and Labor Market Institutions on MFP Growth; 9. Impact of Labor and Product Market Institutions on ICT Capital Deepening; 10. Predicted Impact of Product and Labor Market Reforms; 11. Controlling for Other Determinants of MFP Growth; Appendixes; I. The Impact of Product and Labor Market Institutions on Labor Productivity; II. Dropping Countries One by One; III. Regressions with 3-year Averages
• Sommario/riassunto: 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.