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What role did education, equipment age and technology play in 20th century productivity growth?

Abstract : The 20th century was a period of exceptional growth, driven mainly by the increase in total factor productivity (TFP). Studying 17 OECD countries over the 1890-2013 period,1 this Rue de la Banque shows that the “one big wave” of productivity growth in the mid-20th century, as well as the ICT productivity wave, remain only partially explained when taking into account quality-adjusted factors such as education, equipment age and technology diffusion along with the stock of productive capital and hours worked. These results plead for a wider view on growth factors, encompassing changes in the production process, management techniques, financing practices, firm demography and factor allocation.
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https://hal-amu.archives-ouvertes.fr/hal-01724564
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Submitted on : Tuesday, March 6, 2018 - 3:21:12 PM
Last modification on : Thursday, March 3, 2022 - 2:39:51 PM

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  • HAL Id : hal-01724564, version 1

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Antonin Bergeaud, Gilbert Cette, Rémy Lecat. What role did education, equipment age and technology play in 20th century productivity growth?. Rue de la Banque, n°43, 2017, pp.1-5. ⟨hal-01724564⟩

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