Thursday, 12 December 2013

Britain's productivity performance: a medium run view

UK productivity has slumped in the recession.   But it is worth remembering it was very good up until then. Table 5 in Timmer et al is very useful (Marcel P. Timmer & Robert Inklaar & Mary O'Mahony & Bart van Ark, 2011. "Productivity and Economic Growth in Europe: A Comparative Industry Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 21, pages 3-23, Spring).  Remember that UK productivity grew a lot after Mrs Thatcher#s initial reforms. But this table is from 1995.