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The Australian multi-factor productivity growth illusion

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Abstract

Multi-factor productivity growth is widely discussed in the media and among policymakers in Australia. Over the past decade it has been predominantly negative often leading to the view that there is a ‘productivity crisis.’ It is shown that such a measure is wholly misleading. Preliminary econometric investigation suggests that it is economies of scale and scope that are the primary drivers of productivity growth in Australia. However, much more research needs to be undertaken, with the inter-related processes of innovation and entrepreneurship at its core, before any new policies to promote productivity growth are designed and implemented.

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  • John Foster, 2014. "The Australian multi-factor productivity growth illusion," Discussion Papers Series 520, School of Economics, University of Queensland, Australia.
    • Handle: RePEc:qld:uq2004:520
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    File URL: https://economics.uq.edu.au/files/45975/520.pdf
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    Cited by:

    1. Ovais Vohra, 2017. "Innovation as an Economic Driving Force in Australia," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(1), pages 1-13, December.

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