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Books > Business & Economics > Industry & industrial studies
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Productivity and Growth - A Study of British Industry 1954-86 (Hardcover)
Loot Price: R3,061
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Productivity and Growth - A Study of British Industry 1954-86 (Hardcover)
Series: National Institute of Economic and Social Research Occasional Papers
Expected to ship within 12 - 19 working days
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How much of the growth of output can be accounted for by the growth
of inputs and how much is due to the growth of productivity? This
book, first published in 1994, is a detailed attempt to answer this
question for Britain. Estimates of outputs and inputs for over 130
industries were constructed, following the methodology pioneered by
Professor Dale Jorgenson. These estimates can be employed to build
up a picture of the performance of UK manufacturing as a whole.
Contrary to the impression left by some previous authors, growth of
productivity is found to play a relatively minor role - growth of
inputs, when properly measured, accounts for most of the growth of
output. The wealth of data which this book presents can also be
used to shed light on a number of recent controversial views
attached to the 'New Growth Theory'. According to this theory,
externalities and increasing returns, often held to be associated
with fixed investment, are the engine of economic growth. However,
this book finds that the evidence does not support these claims.
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