search query: @author Cameron, G. / total: 4
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| Author: | Cameron, G. |
| Title: | Why did UK manufacturing productivity growth slow down in the 1970s and speed up in the 1980s? |
| Journal: | Economica
2003 : FEB, VOL. 70:277, p. 121-141 |
| Index terms: | Manufacturing industry Productivity United Kingdom |
| Language: | eng |
| Abstract: | After a dramatic slowdown in the 1970s, productivity growth in United Kingdom manufacturing in the 1980s returned to something like its pre-slowdown trend. The paper constructs a quarterly dynamic model of total factor productivity growth in UK manufacturing using cointegration techniques, correcting for a variety of measurement biases. The elasticity of output with respect of R&D capital is estimated at between 0.2 and 0.3, with human capital playing a positive and significant role. The paper also determines how much of the UK productivity slowdown in the 1970s was to the mis-measurement of output and the business cycle and how much was due to structural changes. The answer appears to be about half and half. |
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