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The UK's Productivity Puzzle: Labour, Investment and Finance

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  • Jagjit Chadha

Abstract

Economic growth matters. The material improvement in living standards as measured by the increase in the production of goods and services has been an artefact of the modern world. Britain has been characterised as the first industrial nation (Mathias, 1969) and accordingly with a sustained period of economic growth, it reached a peak in 1900 of 9.4% of world output (Maddison 2010). This fraction has declined with the increasing growth of emerging parts of the world but also because Britain's relative performance has tended to deteriorate.

Suggested Citation

  • Jagjit Chadha, 2017. "The UK's Productivity Puzzle: Labour, Investment and Finance," National Institute of Economic and Social Research (NIESR) General Election Briefings, National Institute of Economic and Social Research, issue 7, June.
    • Handle: RePEc:nsr:niesrg:i:7:m:june:y:2017
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    File URL: https://www.niesr.ac.uk/wp-content/uploads/2021/10/NIESR-GE-Briefing-No.-7-The-UKs-Productivity-Puzzle-Labour-Investment-and-Finance-3.pdf?ver=g2dfIqUOJ1hdtWO29EIe
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    References listed on IDEAS

    as
    1. Richard Blundell & Claire Crawford & Wenchao Jin, 2014. "What Can Wages and Employment Tell Us about the UK's Productivity Puzzle?," Economic Journal, Royal Economic Society, vol. 0(576), pages 377-407, May.
    2. Amit Kara, 2017. "Infrastructure in the UK: Time to Rebuild?," National Institute of Economic and Social Research (NIESR) General Election Briefings, National Institute of Economic and Social Research, issue 3, May.
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