What Drives Productivity Growth ?

  title={What Drives Productivity Growth ?},
  author={Kevin J. Stiroh},
  • Kevin J. Stiroh
  • Published 2000
n 1995, the U.S. economy started to experience a strong resurgence in labor productivity growth. After growing only 1.3 percent per year from 1973 to 1995, labor productivity growth jumped to 2.5 percent from 1995 to 1999 (see chart).1 This striking revival has hardly gone unnoticed, with academics, policymakers, and the financial press hotly debating competing explanations. Some commentators emphasize rapid capital accumulation and the recent investment boom, others point to deeper factors… CONTINUE READING
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