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Productivity Growth and Value Chains in Four European Countries
Author:
Ms. Izabela Karpowicz
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Mrs. Nujin Suphaphiphat
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Series:
IMF Working Papers
Volume/Issue:
Volume 2020: Issue 018
Language:
English
Publication Date:
31 Jan 2020
DOI:
https://doi.org/10.5089/9781513527918.001
ISBN:
9781513527918
ISSN:
1018-5941
Pages:
18
Keywords:
WP; firm; global value chain; increase productivity; firm Innovation proxy; productivity dynamics; data availability; firm level; Labor productivity; Productivity; Total factor productivity; Capital productivity; Global value chains; Global; Europe; firms; GVC
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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Advanced economies have been witnessing a pronounced slowdown of productivity growth since the global financial crisis that is accompanied in recent years by a withdrawal from trade integration processes. We study the determinants of productivity slowdown over the past two decades in four closely integrated European countries, Austria, Denmark, Germany and the Netherlands, based on firm-level data. Participation in global value chains appears to have affected productivity positively, including through its effect on TFP when facilitated by higher investment in intangible assets, a proxy for firm innovation. Other contributors to productivity growth in firms are workforce aging, access to finance, and skills mismatches.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund