Does Sweden export its TFP? That we tell you about: Gross Production TFP for 50 different industries and a handful aggregates The impact of R&D, ICT intensity.

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Presentation transcript:

Does Sweden export its TFP? That we tell you about: Gross Production TFP for 50 different industries and a handful aggregates The impact of R&D, ICT intensity and labour quality on the TFP New Gross Production TFP that includes intermediates The relationship between the TFP and prices The export of TFP The import of TFP

Average TFP on industry level

TFP for the Total Business Sector

TFP for the Goods and the Service Sector

Average TFP and ICT Intensity 2003

Average TFP Industries according to ICT intensity

A tentative explanation of the TFP growth The service industries have 1 percent lower TFP growth per year given the other variables The coefficient for R&D intensity indicates that an increase of 10 percent of the value added gives an increase in TFP growth rate by more than 0.4 percent per year An increase of 10 percent of the proportion of ICT capital in relation to the value added gives almost the same effect or 0.4 The effect of labour quality is negative; this could at least in part be explained by difficulties in rationalisation and problems with price indices for some service industries with very qualified staff. This underlines by the fact that for the manufacturing industries the correlation is positive

Who benefit most from TFP growth? Who benefits most depends on the competitive environment in each industry Extreme examples are many in the ICT industry, but the pharmaceutical industry are better protected by their patents The Swedish food industry is an example of how much a change in the competitive situation means A country profits from globalisation by importing and exporting TFP, but it is always better to buy cheap and sell at high prices It is not only the TFP in the own production that matters but also the TFP in the intermediates

The relationship between TFP and price changes

Main Industries in the Swedish export of TFP 1995 and 2003

Does Sweden export its TFP? What we have told you: Gross Production TFP in Sweden is high, especially for manufacturing industries The impact of R&D, ICT intensity on TFP is high but not for labour quality New Gross Production TFP, that includes intermediates, do influences the prices The export of TFP is dominated by Telecom and a handful other engineering industries and chemicals The import of TFP is almost a mirror image, except for oil