Productivity Commission1 Shiji Zhao Productivity Commission PC-ABS Productivity Perspective Conference 2012, Canberra 20 th November 2012 An overview of.

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Presentation transcript:

Productivity Commission1 Shiji Zhao Productivity Commission PC-ABS Productivity Perspective Conference 2012, Canberra 20 th November 2012 An overview of Australia’s productivity performance

Productivity Commission2 Outline Australia’s productivity performance of market sector −Recent development Productivity at industry level −Recent development; and −Trend over a longer period Contribution of changes in the composition of human capital to −Labour productivity −Economic growth Key messages

Productivity Commission3 Multifactor productivity

Productivity Commission4 Multifactor productivity growth

Productivity Commission5 Industry MFP growth rates

Productivity Commission6 Causes for the slowdown in Mining and Utility Lumpy investment −Both mining and utility industries Depletion of natural resources −Mining industry Technology change −Electricity supply Imperfect (output) measurement −Water supply

Productivity Commission7 Further information ( Topp, V., Soames, L., Parham, D. and Bloch H., (2008) Productivity in the Mining Industry: Measurement and Interpretation, Productivity Commission Staff Working Paper, December Topp, V. and Kulys, T. (2012) Productivity in Electricity, Gas and Water: Measurement and Interpretation, Productivity Commission Staff Working Paper, Canberra

Productivity Commission8 MFP growth by industry

Productivity Commission9 MFP growth between to

Productivity Commission10 Indexes of labour input for the 12 industry market sector

Productivity Commission11 Labour Productivity Indexes for the 12 industry market sector

Productivity Commission12 Decomposition of Real Gross Domestic Income (GDI)

Productivity Commission13 GDI Decomposition

Productivity Commission14 Key messages In the recent decade, MFP growth slowed down −For the market sector as a whole and across many industries −Mining and utility industries Long term productivity performance was diverse across industries The effect of human capital made a significant contribution to the growth of Australia’s real income

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