European Productivity in the digital age: evidence from EUKLEMS

Bart van Ark, Robert Inklaar, Kirsten Jaeger, Mary O'Mahony

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

The significant slowdown in productivity growth in many European countries and the United States since the mid-2000s has been widely ascribed to a combination of a significant slowdown in investment, exacerbated by weak demand since the Global Financial Crisis, and disappointing results from the transformation of the New Digital Economy so far. This chapter employs the latest growth accounting series from the EU KLEMS project for European countries and the United States up to 2015 and combines it with several taxonomies related to usage intensities for information and communication technology (ICT), intangibles, skills, and offshoring to detect which factors have most contributed to the slowdown. The results assign greatest importance to ICT and intangible intensities as differentiating factors in industry-level productivity performance. In addition, offshoring has significantly lost in terms of its impact on productivity growth since 2005.
Original languageEnglish
Title of host publicationMeasuring Economic Growth and Productivity
Subtitle of host publicationFoundations, KLEMS Production Models, and Extensions
EditorsBarbara Fraumeni
PublisherElsevier BV
Chapter5
Pages75-94
Number of pages20
ISBN (Print)9780128175965
Publication statusPublished - 2020
Externally publishedYes

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