Productivity and Growth: A Study of British Industry 1954-86

by Nicholas Oulton, Mary O'Mahony

Overview

How much of growth output can be accounted for by growth of inputs and how much is due to growth of productivity? This book is the most detailed attempt yet made to answer this question for Britain. Contrary to the impression left by some previous authors, productivity growth is found to play a relatively minor role: growth of inputs accounts for most of the growth of output. The wealth of data presented is also used to shed light on the "New Growth Theory," which claims that externalities and increasing returns are the engine of economic growth. This book finds that the evidence does not support these claims.

Product Details

ISBN-13:	9780521453455
Publisher:	Cambridge University Press
Publication date:	01/28/1994
Series:	National Institute of Economic and Social Research Occasional Papers , #46
Pages:	340
Product dimensions:	5.98(w) x 9.02(h) x 0.83(d)

Table of Contents

1. An overview; 2. Theory and methods; 3. Estimating the stock of fixed capital; 4. Output, input and productivity growth at the industry level; 5. Output and productivity growth in aggregate manufacturing; 6. Raw material prices and the post-1973 productivity slowdown; 7. Investment, increasing returns, and the pattern of productivity growth; Appendix A: list of industries covered by the census of production, classified by the 1968 SIC; Appendix B: data sources; Appendix C: the reclassification of the standard industrial classification from the 1980 to the 1968 basis; Appendix D: the estimation of gross output; Appendix E: construction of price indices; Appendix F: labour input; Appendix G: rental prices of capital sources; Appendix H: detailed tables.