Sources of Productivity Growth
The most famous description of the productivity sources is that of Solow’s (1957): ”I am using the phrase ’technical change’ as a shorthand expression for any kind of shift in the production function. Thus slowdowns, speed ups, improvements in the education of the labor force and all sorts of things will appear as ’technical change’ ” Since then more specific descriptions of productivity sources have emerged referring to investment, innovations, skills, enterprise and competition (ONS 3, 20).
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