Global Productivity

The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

This book addresses the rising productivity gap between the global frontier and other firms, and identifies a number of structural impediments constraining business start-ups, knowledge diffusion and resource allocation (such as barriers to up-scaling and relatively high rates of skill mismatch).

Trophic levels.

The current global economic downturn and considerable shifting in industrial and manufacturing activities have disturbed the industrial order. However, human work productivity is still one of the most important components of the industrial economy and a determining factor in global competiveness and influence as well as the potential for technological innovation and advancement. Human Work Productivity: A Global Perspective covers how human productivity affects the industrial economy and competitiveness across the industrial and manufacturing sectors. Many approaches that have worked historically must now be reexamined and new approaches must be developed. Integrating recent concepts related to human work productivity for modern production systems/organizations, this book examines how ergonomic improvements for the human operator and/or redesign and rearrangement of the workplace can boost individual productivity. It also covers the impact of the aging workforce, reports on an investigation of total productive maintenance, and considers the efficacy of workplace design from a maintenance perspective. Discussions of work hours and their effect on productivity, the impact of technology, and productivity in a health care organization complete the coverage. In any organization, all components must be considered as an integrated whole for sustained productivity. This book explores these components as independent factors and examines their impact on productivity. It then discusses models integrating these factors, creating a clear understanding of the whole, and details schemes of optimization for putting that understanding into practice.

This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries.

- Foreword - Abbreviations and acronyms - Executive summary - The elusive quest for regional convergence? - Thinking global, developing local: Tradable sectors, cities and their role for catching up - Global trends and regional links: Jobs, clusters and global value chains - Macroeconomic frameworks and institutional factors for regional economic performance - Policy lessons: Productivity and growth in regions

to come

Productivity growth is the foundation of lasting income growth and poverty reduction: Poverty declined in EMDEs with the fastest pace of productivity growth 1981-2015, and rose in EMDEs with the lowest pace. A broad-based slowdown in productivity growth has been underway. Productivity levels in EMDEs remain less than 20 percent of the advanced-economy average, and just 2 percent in LICs. Factors contributing to the productivity deceleration include smaller gains from sectoral reallocation, a slowdown in improvements in many drivers of productivity growth, and an increase in the frequency of adverse shocks.