 Facts and figures about UK taxes, benefits and public spending.
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A peer-reviewed quarterly journal publishing articles by academics and practitioners.
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Type: Journal Articles Authors: Nicholas Crafts and Mary O'Mahony ISSN: Print: 0143-5671 Online: 1475-5890
Published in: Fiscal Studies, Vol. 22, No. 3, September 2001
Volume, issue, pages: Vol. 22, No. 3, pp. 271-306
JEL classification: D24, O47, O52.
The paper reviews recent UK productivity performance using insights from new growth economics and its embodiment in growth accounting techniques. The sources of the UK labour productivity gap are found to differ across countries; broad capital per worker plays a larger part with regard to France and Germany while innovation matters more compared with the USA. The role of incentive structures is examined and the importance of competition as an antidote to agency problems in UK firms is highlighted. Current UK policy is reviewed and the need to address government as well as market failures is stressed. Search |
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