PISA and growth. PISA and growth Competition and growth: empirical relationship.

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Presentation transcript:

PISA and growth

Competition and growth: empirical relationship

Enhancing productivity growth in advanced countries - Liberalization of product market - Investment in higher education - Liberalization of labor market

Enhancing productivity growth in emerging market economies Foster technology transfers Reallocate factors Improve management practices

Wide variation in management: US and Japan leading, developing nations trailing (includes 2013 wave)

Long run growth effect of1000$ per-person spending on education

Two productivity growth waves

Secular stagnation? Dale Jorgenson Europe Missing Growth

Sweden versus Japan

Country-specific productivity breaks Reformers Netherlands: Wassenaard agreement, 1982 TFP growth : 1977-1983 0,5 %, 1983-2002 1,5 % Canada, reforms initiated in early 1990s TFP growth: 1974-1990 0,3 %, 1990-2000 1,1 % Australia, reforms initiated in early 1990s TFP growth: 1971-1990 0,4 %, 1990-2002 1,4 % Sweden, reforms initiated in early 1990s TFP growth: 1976-1992 0,4 %, 1992-2008 1,9 %

Secular stagnation? Dale Jorgenson Europe Missing Growth

Growth enigmas The middle income trap The debate on secular stagnation Innovation, inequality and social mobility

Link between the age and the size of firms

Distribution of firms productivity