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  • 1
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    Where to get the best bang for the buck in the United Kingdom? : industrial strategy, investment and lagging regions (2017)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 24 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1426
    Keywords: Industriepolitik ; Technologiepolitik ; Investition ; Kapitalintensität ; Arbeitsproduktivität ; Produktivitätsentwicklung ; Wirtschaftliche Konvergenz ; Großbritannien ; Economics ; United Kingdom ; Amtsdruckschrift ; Graue Literatur
    Abstract: The United Kingdom is preparing a modern industrial strategy to boost labour productivity across the whole country and to narrow regional gaps in living standards. This raises the question of the optimal allocation of scarce resources in meeting these targets. This study identifies industrial strengths of each region and scope to boost regional productivity through the channel of higher capital intensity. Overall regional investment ratios appear weakly linked to regional productivity, but the sectoral composition of regions and their type of investment are more important determinants. Each region has productivity leaders, but the concentration of such firms is the highest in the south of England. Differences in the representation of the most productive firms in regions are strongly related to differences in regional productivity. The empirical methodology quantifies the productivity effects of raising the capital intensity in each sector-region, focusing on viable firms falling behind the national productivity frontier in all but the finance and insurance sectors over 1995-2014. To enhance labour productivity of lagging regions, the industrial strategy should promote the catch up of firms with the national best performers in services sectors, in particular knowledge intensive services such as ICT and business services, but also wholesale and retail trade. This finding is consistent with the UK’s leading global position in high value-added services sectors. The type of investment matters: boosting research and development in the manufacturing sector in some lagging regions would also be effective in stimulating productivity. Manufacturing investment cannot be a substitute to investment in services given the small size of the manufacturing sector and its high exposure to competition from rapidly emerging global hubs. However, this study does not quantify the effects of skills, the benefits of greater industrial diversification and the positive impact that larger cities would have on agglomeration effects.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/2d01150c-en
    URL: Volltext  (lizenzpflichtig)
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  • 2
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    A genie in a bottle? : globalisation, competition and inflation (2018)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 42 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1462
    Keywords: Globalisierung ; Wettbewerb ; Inflation ; Marktmacht ; Betriebliche Wertschöpfung ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: Declining inflation in many countries over the past few decades at the same time as rising global competition has led to a debate on the importance of globalisation for domestic inflation. This paper explores the implications of global value chain (GVC) integration and market contestability for inflation using a range of industry-level and micro-data sources. We provide evidence that rising participation in GVCs has placed downward pressure on producer price inflation, by increasing the ability of firms to substitute domestic inputs with cheaper foreign equivalents. We investigate the channels, which suggests that increased GVC participation contributed to lower inflation via downward pressures on unit labour costs – by raising productivity and reducing wages – in the importing country, especially when low-wage countries are integrated in supply chains. We then present industry-level evidence to support the conjecture that a higher level of GVC integration dampens producer price inflation by accentuating the impact of global economic slack on domestic inflation. However, we also find an increasing trend in mark-ups, suggestive of rising market power, particularly in services sectors. Thus, looking forward, there is a risk that stalling globalisation since the crisis, coupled with stronger aggregate demand and declining market contestability, could lead to inflationary pressures in the medium term, thereby letting the inflation genie out of the bottle.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/deda7e54-en
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  • 3
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    The role of institutions and firm heterogeneity for labour market adjustment : cross-country firm-level evidence (2012)
    Paris : OECD
    Details
    Language: English
    Pages: Online-Ressource , graph. Darst.
    Series Statement: OECD social, employment and migration working papers 134
    Keywords: Arbeitnehmerschutz ; Finanzkrise ; Vergleich ; Welt ; Employment ; Social Issues/Migration/Health ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper investigates the role of policies and institutions for aggregate labour market dynamics during the global financial crisis using firm-level data. The use of firm-level data is important if firms are heterogeneous in their labour input adjustment technologies. In this case, cross-country differences in aggregate labour market dynamics may not just stem from cross-country differences in average labour input technologies - here assumed to be largely due to differences in institutional settings -, but also from differences in the distribution of shocks across firms within countries and the composition of firms across countries. The contribution of this paper is threefold. First, the paper provides comparable estimates of the labour input adjustment behaviour of firms in response to output shocks across countries, industries and firm-size groups. Second, it makes use of decomposition methods to get a first indication of the importance of cross-country differences in adjustment technologies, the distribution of shocks across firms and the composition of firms across countries. We find that differences in the adjustment behaviour of firms account for about 40% of the cross-country variation in aggregate employment growth during the global financial crisis. We interpret this as prima facie evidence that differences in institutional settings accounted for a substantial part of the variation in aggregate employment growth during the crisis. Third, we find that employment-protection provisions with respect to regular workers reduce the output elasticity of employment, but increase the output elasticity of earnings per worker. Thus, employment protection tends to shift the burden of adjustment from the extensive to the intensive margin. However, the quantitative impact of employment protection for explaining the variation in aggregate labour dynamics during the global financial crisis is relatively small.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k913gcn5bf3-en
    URL: Volltext
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  • 4
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    Reducing regional disparities in productivity in the United Kingdom (2018)
    Paris : OECD Publishing
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    Language: English
    Pages: 1 Online-Ressource (circa 42 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1456
    Keywords: Produktivitätsentwicklung ; Regionalentwicklung ; Verkehrsinfrastruktur ; Dezentralisierung ; Großbritannien ; Economics ; United Kingdom ; Amtsdruckschrift ; Graue Literatur
    Abstract: The United Kingdom displays large regional disparities in productivity compared to most other OECD countries, with a large gap between London and most other regions. This holds back aggregate productivity and growth, and contributes to regional differences in living standards. To make the lagging regions more attractive to companies and workers, transport links between and within cities should be improved by increasing infrastructure investment outside London. Another policy priority is to improve the local business environment through more spending on innovation and increased support for investment and skills. Also, local authorities should have more freedom in setting education and training goals and the land-use planning system has to be more responsive to meet housing needs in cities. The role of subnational government is sub-par relative to the OECD average, but more devolution has recently been introduced in several city-regions. Such efforts towards more decentralization need to continue to cover larger parts of the country and involve greater transfers of powers and responsibilities at the local level.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/54293958-en
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  • 5
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    The quantification of structural reforms : introducing country-specific policy effects (2018)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 30 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1487
    Keywords: Strukturwandel ; Wirtschaftliche Anpassung ; Regulierung ; Institutionelle Infrastruktur ; Produktivitätsentwicklung ; Investition ; Erwerbstätigkeit ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper presents country-specific effects of structural reforms. It discusses how sizeable and interesting country-specific effects can be identified in a panel setting by conditioning the impact of individual policies on their own level or on the stance of other policies and institutions. This approach allows for the incorporation of a potentially large set of additional policy areas including institutions and policy areas with limited time-series availability (e.g. sub-components of the Product Market Regulation indicator, housing market regulations and policies, Doing Business indicators and the quality of institutions such as the rule of law indicator or the efficiency of the legal system). Results suggest that for instance, when more stringent product market regulation hurts more in more open economies. Better institutions amplify the positive effect of R&D spending. Tax wedge reduction leads to less employment gains when EPL is not very stringent.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/885727c3-en
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  • 6
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    Productivity and innovation at the industry level : what role for global value chain integration? (2019)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 36 Seiten) , Illustrationen
    Series Statement: OECD productivity working papers no. 19 (October 2019)
    Series Statement: OECD productivity working papers
    Keywords: Science and Technology ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: Productivity growth has declined in most advanced economies in the past two decades and there are signs that the pace of global value chain (GVC) integration has slowed in the post-crisis period. This paper explores the role of GVCs - international trade in intermediate inputs - for multi-factor productivity growth using a range of cross-country industry-level data sources. We find that greater participation in GVCs is associated with faster domestic productivity growth at the industry level. We estimate that if GVCs had continued to grow at their pre-crisis trend, productivity growth would have been around 1 percentage point faster over the subsequent five years in both manufacturing and services. We also find that the productivity-enhancing direction of trade differs between sectors. For manufacturing sectors, greater use of intermediate inputs from foreign sources (backward participation) is linked with faster productivity growth, reflecting the beneficial effects of having access to better quality or cheaper inputs. For services sectors, it is more the sales of intermediates (forward participation) that is associated with productivity gains, in line with the traditional role of services in foreign trade as providing inputs to other activities. Looking by partner country, GVC participation with higher productivity countries is particularly productivity enhancing. We also find that GVC integration spurs greater domestic innovation activity.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/a5cec52c-en
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  • 7
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    Like it or not? : the impact of online platforms on the productivity of incumbent service providers (2019)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 60 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1548
    Keywords: Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper uses a novel empirical approach to assess if the development of online platforms affects the productivity of service firms. We build a proxy measure of platform use across four industries (hotels, restaurants, taxis and retail trade) and ten OECD countries using internet search data from Google Trends, which we link to firm-level data on productivity in these industries. We find that platform development supports the productivity of the average incumbent service firm and also stimulates labour reallocation towards more productive firms in these industries. This may notably reflect that platforms’ user review and rating systems reduce information asymmetries between consumers and service providers, enhancing competition between providers. The effects depend on platform type. “Aggregator” platforms that connect incumbent service providers to consumers tend to push up the productivity of incumbents, while more disruptive platforms that enable new types of providers to compete with them (e.g. home sharing, ride hailing) have on average no significant effect on it. Consistent with this, we find that different platform types affect differently the profits, mark-ups, employment and wages of incumbent service firms. Finally, the productivity gains from platforms are lower when a platform is persistently dominant on its market, suggesting that the contestability of platform markets should be promoted.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/080a17ce-en
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  • 8
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    Sectoral and regional distribution of export shocks : what do two hundred thousand UK firm oservations say? (2018)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 34 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1501
    Keywords: Export ; Schock ; Wirtschaftsstruktur ; Produktivitätsentwicklung ; Erwerbstätigkeit ; Lohn ; Großbritannien ; EU-Staaten ; Education ; Amtsdruckschrift ; Graue Literatur
    Abstract: This study explores the impact of export shocks on firms and re-aggregates results to derive distributional effects on sectors and regions. In a first step, firm level data are used to assess the empirical relationship between exports and three outcome variables – labour productivity, employment and wages. In a second step, an illustrative set of changes in trading relationships generate sectoral export shocks, which are simulated with the OECD METRO model of trade and subsequently fed into micro-level estimates. The method developed in this study can be applied to other countries, conditional on the availability of data. As an initial case study, the analysis is for the United Kingdom which has weak regional productivity outside London, partly related to sectoral and trade specialisation. In particular, the most productive regions are specialised in knowledge-intensive services and are more intensive in tradable services. The results suggest limited impacts of export shocks on sectoral employment, except for car and truck manufacturing, consistent with a high integration of the sector with European value chains. Labour productivity and wages are negatively affected across most sectors, but the effects are smaller on the services sector relative to the goods sector. Given that services activities are concentrated in more productive regions, these regions are more resilient to shocks. The United Kingdom has a strong comparative advantage in services sectors and promoting the opening of global services markets would be an important way to offset potential negative impacts of export shocks on the other sectors of the economy.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/e5f21088-en
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  • 9
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    Can productivity still grow in service-based economies? : literature overview and preliminary evidence from OECD countries (2018)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 54 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1531
    Keywords: Dienstleistungsgesellschaft ; Produktivitätsentwicklung ; Bibliometrie ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: Services employ an ever-increasing share of workers in all OECD countries. This trend is likely to continue as it reflects deep structural forces, such as increasing consumption of services with rising incomes and population ageing and the growing role of intangible assets. Services are very diverse, but overall tend to have weaker productivity levels and growth rates than manufacturing. As a result, the shift to services entails a moderate but persistent drag on productivity growth. Still, there are reasons to hope for a pick-up in service productivity in the future, including thanks to new technologies (e.g. digital platforms, artificial intelligence). This concerns both “knowledge intensive” services (e.g. information and communication) and less knowledge intensive ones (e.g. personal transport). Harnessing this productivity potential requires adjusting policies to foster innovation and efficient use of new technologies, enhance competitive forces by reducing information asymmetries, barriers to entry and switching costs, and increase the tradability of services within countries and across borders.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/4458ec7b-en
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  • 10
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    Digitalisation and productivity : in search of the holy grail : firm-level empirical evidence from EU countries (2019)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 64 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1533
    Keywords: Digitalisierung ; Informationstechnik ; Produktivitätsentwicklung ; Qualifikation ; EU-Staaten ; Economics ; European Union ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper assesses how the adoption of a range of digital technologies affects firm productivity. It combines cross-country firm-level data on productivity and industry-level data on digital technology adoption in an empirical framework that accounts for firm heterogeneity. The results provide robust evidence that digital adoption in an industry is associated to productivity gains at the firm level. Effects are relatively stronger in manufacturing and routine-intensive activities. They also tend to be stronger for more productive firms and weaker in presence of skill shortages, which may relate to the complementarities between digital technologies and other forms of capital (e.g. skills, organisation, or intangibles). As a result, digital technologies may have contributed to the growing dispersion in productivity performance across firms. Hence, policies to support digital adoption should go hand in hand with creating the conditions to enable the catch-up of lagging firms, notably by easing access to skills.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/5080f4b6-en
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