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Productivity and Growth : A Study of British Industry 1954-86 - Nicholas Oulton

Productivity and Growth

A Study of British Industry 1954-86

Hardcover Published: 28th January 1994
ISBN: 9780521453455
Number Of Pages: 340

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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 is the most detailed attempt yet made 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.

An overview
Theory and methods
Estimating the stock of fixed capital
Output, input and productivity growth at the industry level
Output and productivity growth in aggregate manufacturing
Raw material prices and the post-1973 productivity slowdown
Investment, increasing returns, and the pattern of productivity growth
list of industries covered by the census of production, classified by the 1968 SIC
data sources
the reclassification of the standard industrial classification from the 1980 to the 1968 basis
the estimation of gross output
construction of price indices
labour input
rental prices of capital sources
detailed tables
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521453455
ISBN-10: 0521453453
Series: Cambridge International Series on Parallel Computation
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 340
Published: 28th January 1994
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 2.06
Weight (kg): 0.62

Earn 393 Qantas Points
on this Book