Finance & Development, September 2024: Productivity and How to Revive It
The report discusses the challenges of productivity growth in the global economy, emphasizing the need for innovative policies and reforms to address stagnation, particularly in the context of emerging markets and the impact of technology and demographic changes.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | International Monetary Fund |
| Authors: | Analisa R. Bala, Aqib Aslam, Daniel Leigh, Daniel Susskind, Diaa Noureldin, Gabriel Zucman, Gilles O. Yabi, Gita Bhatt, Kamya Chandra, Mai Chi Dao, Mariana Mazzucato, Michael Spence, Nan Li, Olivia S. Mitchell, Petya Koeva Brooks, Prachi Mishra, Prakash Loungani, Pramod Varma, Raghuram G. Rajan, Rohit Lamba, Tanushka Vaid, Ufuk Akcigit, Michael Peters |
| Geographic focus: | Global |
Methods
The research method involved a comprehensive analysis of productivity trends across various economies, utilizing data from multiple sources, including historical records, economic indicators, and case studies. It also included qualitative assessments of policy impacts and demographic changes.
(Generated with the help of GPT-4)
Key Insights
The report examines the decline in productivity growth across advanced economies, particularly the United States, and its implications for global economic stability. It highlights the paradox of increased research and development spending not translating into productivity gains, as larger firms focus on market dominance rather than innovation. The report suggests that emerging markets hold significant potential for future growth and multilateralism, but face challenges such as political instability and resource misallocation. It advocates for targeted reforms to improve resource allocation, enhance competition, and leverage technology, particularly artificial intelligence, to revive productivity. The report also emphasizes the importance of understanding demographic shifts and their impact on labor markets and economic growth.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2020s time horizon | 2024 time horizon | English publication language | Global geographic scope | demographic changes | demographics | dynamism | economic growth | emerging markets | innovation | international cooperation | multilateralism | policy reforms | productivity | resource allocation | sustainable growth | taxation | technology | total factor productivity