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Business and Economics > Production and Operations Management

You are looking at 1 - 10 of 215 items for :

  • Type: Journal Issue x
  • Human Capital; Skills; Occupational Choice; Labor Productivity x
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Cover Selected Issues Papers
Artificial Intelligence in Qatar: Assessing the Potential Economic Impacts
Tongfang Yuan
Qatar has been actively preparing to embrace the transformative potential of artificial intelligence (AI), allowing it to lead its Emerging Market peers in AI readiness. Qatar’s AI exposure has increased significantly over the years, and increasing AI adoption is assessed to yield more opportunities than risks for the country’s labor force, thanks to the private sector’s contribution in increasing jobs that are more likely to benefit from AI-driven productivity gains. Scenario analyses suggest that increasing AI adoption, supported by policy reforms to boost human capital, innovation and domestic knowledge spillovers, could generate sizeable labor productivity gains over the medium term.
Keywords:
Artificial Intelligence (AI); labor demand; productivity; skills; Qatar; AI adoption; productivity gain; Qatar's AI exposure; artificial intelligence in Qatar; potential of artificial intelligence; Labor force; Labor productivity; Global
Cover Selected Issues Papers
Transforming the Future: The Impact of Artificial Intelligence in Korea
Soo Jung Chang
,
Hamin Lee
,
Sumin Lee
,
Samil Oh
,
Zexi Sun
, and
Xin Cindy Xu
This paper examines the economic impact of Artificial Intelligence (AI) in Korea. Korea is among the global frontrunners in AI adoption, with higher adoption rates among larger, younger, and technologically advanced firms. AI holds the promise for boosting productivity and output, though the effects are more pronounced among larger and mature Korean firms. About half of jobs are exposed to AI, with higher exposures among female, younger, more educated, and higher income workers. Korea’s strong innovation and digital infrastructure highlights its AI readiness, while enhancing labor market flexibility and social safety nets are essential to fully harness AI’s potential.
Keywords:
Artificial Intelligence; AI; labor market; productivity; growth; E. AI preparedness; profitability regression; preparedness index; AI adoption; B. AI adoption; Aging; Labor market policy; Global
Cover IMF Staff Country Reports
Qatar: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
2024 Selected Issues
Keywords:
AI readiness; AI adoption; B. Qatar's progress; artificial intelligence in Qatar; innovation policy; Export diversification; Capital spending; Exports; Human capital; Global; Middle East; Eastern Europe; Europe
Cover IMF Staff Country Reports
Niger: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper estimates the tax revenue gap, which reflects the difference between the actual tax revenue collected and the potential revenue for Niger's economic and institutional context. The tax revenue gap has been increasing since 2015 and reached 3.4 percent of gross domestic product in 2022, primarily due to gaps in the collection of taxes on goods and services, and international trade taxes. In order to enhance revenue mobilization in Niger, it is essential to rationalize value-added tax (VAT) exemptions and the reduced VAT rates on specific products, reform excise and property taxes, and strengthen tax administration. Furthermore, addressing informality and enhancing the ability to collect taxes from the informal sector, along with improving governance, will bolster revenue mobilization capacity in the medium to long term. Improving social acceptability will require a well-thought communication strategy and mitigating measures. Improving transparency and accountability of institutions are essential to gain support for revenue mobilization.
Keywords:
B. revenue potential; output gap estimate; governance weakness; output gap estimation; tax revenue potential; Potential output; Output gap; Sub-Saharan Africa; North Africa; Global; West Africa
Cover IMF Working Papers
The Economic Costs of Temperature Uncertainty
Luca Bettarelli
,
Davide Furceri
,
Michael Ganslmeier
, and
Marc Schiffbauer
Beyond its environmental damage, climate change is predicted to produce significant economic costs. Combining novel high-frequency geospatial temperature data from satellites with measures of economic activity for the universe of US listed firms, this article examines a potentially important channel through which global warming can lead to economic costs: temperature uncertainty. The results show that temperature uncertainty—by increasing power outages, reducing labor productivity, and increasing the degree of exposure of firms to environmental and non-political risks, as well as economic uncertainty at the firm-level—persistently reduce firms’ investment and sales. This effect varies across firms, with those characterized by tighter financial constraints being disproportionally more affected.
Keywords:
Temperatures; Temperature Volatility; Uncertainty; Firms.; temperature uncertainty; impact of Temperature volatility; firms' characteristic; temperature data; firms' investment; Climate change; Labor productivity; Natural disasters; Employment; Global
Cover Selected Issues Papers
Productivity Shocks to the Pharmaceutical Sector and the Danish Economy: Denmark
Kotaro Ishi
The pharmaceutical industry in Denmark has grown rapidly in recent years. This paper discusses the macroeconomic impact of the pharmaceutical sector. The analysis focuses on Novo Nordisk, the leading pharmaceutical company in Denmark, and its productivity impact on the rest of the economy. Empirical evidence suggests only weak correlations between productivity shocks at Novo Nordisk and overall economic growth, as well as between Novo Nordisk’s productivity and that of other firms. However, we find evidence of a significant within-industry spillover effect in the pharmaceutical sector.
Keywords:
Productivity; spillovers; pharmaceutical; productivity shock; Novo Nordisk's productivity; pharmaceutical industry in Denmark; shocks to Novo Nordisk; macroeconomic impact; Labor productivity; Exports; Employment; Global
Cover IMF Working Papers
Chasing the Dream: Industry-Level Productivity Developments in Europe
Serhan Cevik
,
Sadhna Naik
, and
Keyra Primus
European countries are lagging behind in productivity growth, with significant productivity gaps across industries. In this study, we use comparable industry-level data to explore the patterns and sources of total factor productivity (TFP) growth across 28 countries in Europe over the period 1995–2020. Our empirical results highlight four main points: (i) TFP growth is driven largely by the extent to which countries are involved in scientific and technological innovation as the leader country or benefiting from stronger knowledge spillovers; (ii) the technological gap is associated with TFP growth as countries move towards the technological frontier by adopting new innovations and technologies; (iii) increased investment in information and communications technology (ICT) capital and research and development (R&D) contributes significantly to higher TFP growth; and (iv)the impact of human capital tends to be stronger when a country is closer to the technological frontier. The core findings of this study call for policy measures and structural reforms to promote innovation and facilitate the diffusion of new and existing technologies across Europe.
Keywords:
Total factor productivity; technology; R&D; innovation; human capital; Europe; productivity development; developments in Europe; core finding; TFP slowdown; TFP difference; Productivity; Capital spending; Global
Cover IMF Staff Country Reports
Philippines: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper focuses on potential growth and demographic dividend in Philippines. Output and employment in the Philippines were severely impacted by the coronavirus disease 2019 pandemic. While the Philippines recovered strongly after the pandemic, there is some evidence of scarring in output, and labor productivity remains below pre-pandemic trends. A comparison between the Philippines and peer countries along structural areas key to supporting higher growth can inform reform efforts to support higher growth. Strengthening anti-corruption efforts, while enhancing the legal system, regulatory quality, and improving the rule of law would support business certainty. At a structural level, the Philippines is on the cusp of a demographic transition but must close important structural gaps to take advantage of this potential dividend and boost growth. Under current policy settings, potential growth projections are estimated to be between 6.0–6.3 percent in the medium term. An upside scenario, which assumes ambitious and well-sequenced structural reforms, shows that growth could reach 7.0–7.5 percent over a longer time horizon.
Keywords:
supply and demand inflation decomposition; supply and demand food inflation decomposition; inflation volatility; inflation expectation; services inflation decomposition; supply and demand goods inflation decomposition; Inflation; Total factor productivity; Human capital; Labor productivity; Global; Asia and Pacific
Cover IMF Working Papers
Dynamic Development Accounting and Relative Income Traps
Patrick A. Imam
and
Jonathan R. W. Temple
Previous research suggests that economy-wide poverty traps are rarely observed in the data. In this paper, we explore a related hypothesis: low-income countries rarely improve their position relative to the US. Using finite state Markov chains, we show that upwards mobility is indeed limited. Since capital-output ratios are similar across countries, and human capital is also converging, the persistence of low relative income seems to originate in the persistence of low relative TFP. We study the dynamics of relative TFP and how they interact with absolute levels of human capital, casting new light on the future of convergence.
Keywords:
Economic growth; development accounting; low-income trap; poverty trap; income trap; state Markov chains; country sample; OECD member country; relative TFP; Total factor productivity; Human capital; Growth accounting; Income; Capital productivity; Global
Cover IMF Working Papers
What Can Artificial Intelligence Do for Stagnant Productivity in Latin America and the Caribbean?
Bas B. Bakker
,
Sophia Chen
,
Dmitry Vasilyev
,
Olga Bespalova
,
Moya Chin
,
Daria Kolpakova
,
Archit Singhal
, and
Yuanchen Yang
Since 1980, income levels in Latin America and the Caribbean (LAC) have shown no convergence with those in the US, in stark contrast to emerging Asia and emerging Europe, which have seen rapid convergence. A key factor contributing to this divergence has been sluggish productivity growth in LAC. Low productivity growth has been broad-based across industries and firms in the formal sector, with limited diffusion of technology being an important contributing factor. Digital technologies and artificial intelligence (AI) hold significant potential to enhance productivity in the formal sector, foster its expansion, reduce informality, and facilitate LAC’s convergence with advanced economies. However, there is a risk that the region will fall behind advanced countries and frontier emerging markets in AI adoption. To capitalize on the benefits of AI, policies should aim to facilitate technological diffusion and job transition.
Keywords:
Artificial Intelligence (AI); Productivity Stagnation; Technological Innovation; Latin America; Caribbean; Economic Growth; Labor Productivity; Automation; Macroeconomic Impact; Digital Transformation; Cross-Country Analysis; Regional Development; Technology Adoption; Emerging Economies; Economic Policy.; difference AI; AI adoption; technology producer; AI's role; Artificial intelligence; Productivity; North America; Europe; Global; Asia and Pacific