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Does Technological Diffusion Explain Australia’s Productivity Performance?
Author:
Mr. Thierry Tressel
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Series:
IMF Working Papers
Volume/Issue:
Volume 2008: Issue 004
Language:
English
Publication Date:
01 Jan 2008
DOI:
https://doi.org/10.5089/9781451868661.001
ISBN:
9781451868661
ISSN:
1018-5941
Pages:
42
Keywords:
WP; product market; capital deepening; labor market
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2008: Issue 004