Report
Productivity gains since the 1960s: A spectacular and paradoxical slowdown
When we look at productivity gains in OECD countries since the 1960s, we see a drastic slowdown in the early 1980s and then in the mid-2000s . O ver the same period, spending on research and innovation increased sharply and economies began to be digitalised and automated: the drastic slowdown in productivity gains is therefore paradoxical. What accounts for it ? Slower growth in the level of educational attainment among the labour force; The growth of unsophisticated services alongside the modernisation of the economy; Corporate concentration, as companies with dominant positions have little incentive to make productivity gains; The ageing of the labour force. Public polic y can influence the skill level and corporate concentration.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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