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

Author

Listed:
  • Antonin Bergeaud

    (Centre de recherche de la Banque de France - Banque de France)

  • Gilbert Cette

    (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique, Centre de recherche de la Banque de France - Banque de France)

  • Rémy Lecat

    (Centre de recherche de la Banque de France - Banque de France)

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.

Suggested Citation

  • Antonin Bergeaud & Gilbert Cette & Rémy Lecat, 2017. "What role did education, equipment age and technology play in 20th century productivity growth?," Post-Print hal-01724564, HAL.
    • Handle: RePEc:hal:journl:hal-01724564
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    References listed on IDEAS

    as
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