Forum 2016 Issues: Productivity & inclusive growth
OECD Week 2016, including the Forum (31 May-1 June) and the Ministerial (1-2 June), placed a central emphasis on the need for policies that strengthen productivity and promote inclusive and sustainable growth, while allaying fears that increasing productivity just means working longer, harder and later in life.
Low productivity levels contribute to income and wealth disparities, as well as growing divergence in other well-being dimensions (education, health, jobs). This is compounded by “legacies” arising from the global financial crisis – continuing high unemployment, particularly amongst young people, and low investment (including in R&D) – all of which negatively impact productivity growth and fuel serious concerns over the current state of our economies.
Despite the enormous potential of new technologies combined with the global reach of the digital economy, advanced and emerging economies are still faced with declining productivity growth. The gap between top firms – firms at the global productivity frontier – and others seems to have widened, likely as a result of a slowdown in the diffusion of knowledge and technology, creating winner-take-all dynamics in some markets for a small group of top performers. Some also argue that the dematerialisation of the economy – the so-called “weightless economy” – makes traditional measurement of productivity obsolete, as most productivity gains occur in intangible sectors of the economy, in particular in the services sector.
- More on Access to quality jobs for younger and older workers
- More on Closing the gender gap
- More on Integrating migrants
- The future of productivity
- Economic Policy Reforms: Going for Growth, Interim Report 2016
- Data-driven innovation for growth and well-being
- Inclusive Growth and Public Governance
- New OECD indicators trace productivity growth slowdown pre- and post- crisis
oecd yearbook articles
- Towards a more productive, inclusive world, Angel Gurría, Secretary-General of the OECD
- The productivity and equality nexus, Gabriela Ramos, OECD Chief of Staff and Sherpa to the G20/G7
- All on board to increase productivity for a more inclusive world, Rodrigo Valdés, Minister of Finance, Chile
- The twin challenges of promoting productivity and inclusive growth, Catherine Mann, Chief Economist, OECD
- The digital disruption of productivity, Diane Coyle, Professor of Economics, University of Manchester and Fellow, Office for National Statistics
- To have and have more: Wealth management and the growth of global inequality, Brooke Harrington, Author and Associate Professor, Copenhagen Business School
- Trade Union Advisory Committee to the OECD (TUAC)
OECD Week 2016: Trade union key messages to the OECD Ministerial Council and Forum - Reducing inequality for higher productivity and well-being in the global economy