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International Comparisons of Productivity - An update on developments
Measures of productivity of the UK relative to other countries; an outline of the methodology used in the measures; some of the measurement issues in making international comparisons.
This article gives an update on developments in the area of international comparisons of productivity, following from the Harley & Owen Economic Trends article of January 1998, and presents details of future work in the field. The paper starts by describing the context of the current work. There has been considerable policy interest in the level of UK productivity. International comparisons of productivity have indicated a gap between the UK and other countries and government policy has been targeted at narrowing this. Measuring this gap has therefore become of considerable interest.
The paper then turns to the measures of UK’s productivity relative to its major competitors describing the methodology used in the current estimates. The measurement issues surrounding international comparisons of productivity are then detailed and some of the results of other research in this area presented.
The paper then sets out the areas of current and future research. Future work on international comparisons includes the reviewing of the current methodology. This is being done jointly by the DTI and the ONS. This should ensure the results continue to be fit for purpose. International comparisons of productivity are also considered as part of a project sponsored by the DTI, HM Treasury and ONS at the National Institute for Economic and Social Research (NIESR). Further, there are OECD and Eurostat initiatives in the area. Finally, the paper offers some conclusions and invites comments.
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