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What Do We Really Know about Productivity Differentials across Countries?

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  • Jayati Ghosh

Abstract

This article examines and critiques the most widely used measure of productivity (output per worker employed) and argues that this is a flawed, inadequate, and even misleading measure of economic progress. In terms of cross-country comparisons and assessing trends over time, both the numerator (GDP or value added) and the denominator (number of workers or hours worked) have significant conceptual and measurement problems. These issues are considered both in general and regarding how they affect analyses of productivity differentials in the United States and India in the recent period. JEL Classification : B5, O47, E24

Suggested Citation

  • Jayati Ghosh, 2022. "What Do We Really Know about Productivity Differentials across Countries?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 54(4), pages 397-410, December.
    • Handle: RePEc:sae:reorpe:v:54:y:2022:i:4:p:397-410
    DOI: 10.1177/04866134221099507
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    More about this item

    Keywords

    productivity; GDP; employment; work;
    All these keywords.

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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