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The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. There is intensive discussion about its impact on productivity going forward. We’ve just released a new study, “Global Productivity: Trends, Drivers and Policies”, that presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the impact of COVID-19 on productivity, and presents a wide-range of policies needed to rekindle productivity growth.

The study documents that the global productivity growth slowdown after the 2007-09 financial crisis affected more than two-thirds of countries. The COVID-19 pandemic may leave lasting scars which will further delay income convergence in EMDEs, where productivity is, on average, only one-fifth of the advanced-economy average. Reflecting the multitude of sources of the slowdown, rekindling productivity growth will require a broad-based policy response.

Our study expands on previous work in its wide-ranging scope (productivity growth, convergence, and employment impacts); its focus on emerging markets and developing economies (EMDEs); and the breadth of its approaches (macroeconomic, sectoral, and firm-level). It is accompanied by a comprehensive dataset of productivity measures for up to 164 advanced economies and EMDEs for 1980-2018 and introduces a new sectoral dataset of productivity.

You can download the study here: http://www.worldbank.org/globalproductivity. Its table of contents is below (each chapter individually downloadable from the book web page). All charts featured in the book and its underlying databases are also available on the web page.

Please do forward this message to those who might be interested in the study. Thank you for your interest in our products. As always, we welcome your comments.

Best.

Ayhan

Global Productivity: Trends, Drivers and Policies

Edited by Alistair Dieppe

Introduction

PART A. Productivity: Trends and Explanations

Chapter 1. Global Productivity Trends

Chapter 2. What Explains Productivity Growth

Chapter 3. What Happens to Productivity During Major Adverse Events

Chapter 4. Productivity Convergence: Is Anyone Catching Up?

PART B. Regional Dimensions of Productivity

Chapter 5. Regional Productivity: Trends, Explanations and Policies

PART C. Technological Change and Sectoral Shifts

Chapter 6. Productivity Technology, Demand and Employment Trade Offs

Chapter 7. Sectoral Sources of Productivity Growth

DATABASES

Aggregate productivity database

Sectoral productivity database

PS: The new study follows on our recent analytical work on Global Waves of Debt: Causes and Consequences, A Decade Since the Global Recession, and Inflation in Emerging and Developing Economies. For our main periodical products, please visit: Global Economic Prospects and Commodity Markets Outlook. For our full menu of monitoring publications, please visit: World Bank Economic Monitoring. For our working papers on topical policy issues, please visit Prospects Group Policy Research Working Papers. For our comprehensive database of fiscal space indicators, see A Cross-Country Database of Fiscal Space.

M. Ayhan Kose

Director

Prospects Group

Equitable Growth, Finance and Institutions

World Bank Group

T +1 (202) 473-8350

E  akose@worldbank.org

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