Trends in productivity and sources of productivity growth in Slovenia: = Tendances de la productivité et les sources de croissance de la productivité en Slovénie
Slovenia's living standards measured in GDP per capita are currently some 20% below the EU15 average and have not yet reached their pre-crisis level. Given that most of this gap comes from differences in labour productivity, the paper looks at productivity trends and sources of productivity gro...
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| Main Author: | |
|---|---|
| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2017
|
| Series: | OECD Economics Department Working Papers
no.1368 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | Slovenia's living standards measured in GDP per capita are currently some 20% below the EU15 average and have not yet reached their pre-crisis level. Given that most of this gap comes from differences in labour productivity, the paper looks at productivity trends and sources of productivity growth over past two decades. The largest labour productivity lags are in agriculture and mining and utilities, but lags are also present in services sectors such as information and communication activities, financial and insurance activities and professional services. The importance of the high and medium high technology manufacturing has risen in the last two decades, and their share in total manufacturing value added is relatively high in Slovenia. Growth accounting shows that total factor productivity (TFP) and physical capital were the main sources of economic growth before the crisis in Slovenia, while the contribution of human capital was low. With the crisis, however, the GDP growth turned highly negative due to large drops in TFP and the labour input contribution. The contribution from physical capital was also reduced, reflecting subdued investment activity. Slovenia has a high level of state control in the economy and low foreign direct investment (FDI). Using two different panel datasets - one spanning the OECD countries and another spanning Slovenia's economic activities - we find that improving both measures could significantly raise productivity. |
| Physical Description: | 1 Online-Ressource (28 Seiten) |
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| 520 | |a Slovenia's living standards measured in GDP per capita are currently some 20% below the EU15 average and have not yet reached their pre-crisis level. Given that most of this gap comes from differences in labour productivity, the paper looks at productivity trends and sources of productivity growth over past two decades. The largest labour productivity lags are in agriculture and mining and utilities, but lags are also present in services sectors such as information and communication activities, financial and insurance activities and professional services. The importance of the high and medium high technology manufacturing has risen in the last two decades, and their share in total manufacturing value added is relatively high in Slovenia. Growth accounting shows that total factor productivity (TFP) and physical capital were the main sources of economic growth before the crisis in Slovenia, while the contribution of human capital was low. With the crisis, however, the GDP growth turned highly negative due to large drops in TFP and the labour input contribution. The contribution from physical capital was also reduced, reflecting subdued investment activity. Slovenia has a high level of state control in the economy and low foreign direct investment (FDI). Using two different panel datasets - one spanning the OECD countries and another spanning Slovenia's economic activities - we find that improving both measures could significantly raise productivity. | ||
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| spelling | Sila, Urban VerfasserIn aut Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie Urban, Sila, Hermes, Morgavi and Jeanne, Dall'Orso Tendances de la productivité et les sources de croissance de la productivité en Slovénie Paris OECD Publishing 2017 1 Online-Ressource (28 Seiten) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1368 Slovenia's living standards measured in GDP per capita are currently some 20% below the EU15 average and have not yet reached their pre-crisis level. Given that most of this gap comes from differences in labour productivity, the paper looks at productivity trends and sources of productivity growth over past two decades. The largest labour productivity lags are in agriculture and mining and utilities, but lags are also present in services sectors such as information and communication activities, financial and insurance activities and professional services. The importance of the high and medium high technology manufacturing has risen in the last two decades, and their share in total manufacturing value added is relatively high in Slovenia. Growth accounting shows that total factor productivity (TFP) and physical capital were the main sources of economic growth before the crisis in Slovenia, while the contribution of human capital was low. With the crisis, however, the GDP growth turned highly negative due to large drops in TFP and the labour input contribution. The contribution from physical capital was also reduced, reflecting subdued investment activity. Slovenia has a high level of state control in the economy and low foreign direct investment (FDI). Using two different panel datasets - one spanning the OECD countries and another spanning Slovenia's economic activities - we find that improving both measures could significantly raise productivity. Economics Slovenia Morgavi, Hermes MitwirkendeR ctb Dall'Orso, Jeanne MitwirkendeR ctb |
| spellingShingle | Sila, Urban Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie Economics Slovenia |
| title | Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie |
| title_alt | Tendances de la productivité et les sources de croissance de la productivité en Slovénie |
| title_auth | Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie |
| title_exact_search | Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie |
| title_full | Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie Urban, Sila, Hermes, Morgavi and Jeanne, Dall'Orso |
| title_fullStr | Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie Urban, Sila, Hermes, Morgavi and Jeanne, Dall'Orso |
| title_full_unstemmed | Trends in productivity and sources of productivity growth in Slovenia = Tendances de la productivité et les sources de croissance de la productivité en Slovénie Urban, Sila, Hermes, Morgavi and Jeanne, Dall'Orso |
| title_short | Trends in productivity and sources of productivity growth in Slovenia |
| title_sort | trends in productivity and sources of productivity growth in slovenia tendances de la productivite et les sources de croissance de la productivite en slovenie |
| title_sub | = Tendances de la productivité et les sources de croissance de la productivité en Slovénie |
| topic | Economics Slovenia |
| topic_facet | Economics Slovenia |
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