Total factor productivity growth: we need a new drug
James, K. R., Kotak, A. & Tsomocos, D. P.
(9 August 2022)
Total factor productivity growth: we need a new drug.
LSE Business Review.
Creating the innovations that drive total factor productivity (TFP) growth takes both ideas and firms that process those ideas into new products or techniques. However, while economic theory and innovation policy focus upon idea supply alone, it is idea processing capability that drives US TFP growth. Kevin R. James, Akshay Kotak, and Dimitri Tsomocos write that understanding and improving the economy’s idea processing capability must be a core element of an effective growth strategy.
| Item Type | Blog post |
|---|---|
| Copyright holders | © 2022 The Authors |
| Departments |
LSE LSE > Research Centres > Financial Markets Group > Systemic Risk Centre |
| Date Deposited | 20 Sep 2022 |
| URI | https://researchonline.lse.ac.uk/id/eprint/116489 |