The Role of CESEE Countries
Edited by Marek Belka, Ewald Nowotny, Pawel Samecki and Doris Ritzberger-Grünwald
Chapter 11: Do jobs created in CEE countries result in higher productivity?
Most of the countries in the world are experiencing a productivity slowdown, for different reasons. With regard to the United States (US), the literature points to almost polar reasons for this phenomenon: the end of the information technology-driven boom of the 1990s (Fernald 2015), or just a drop-off in new business formation and in productivity-enhancing investment by firms (Reifschneider et al. 2015). A common feature of these explanations is that they rely on technology or investments developments, reflecting the fact that basic economic theory says labour productivity is a function of technological progress and capital deepening. In this chapter, my point of departure is somewhat different: I ask whether an additional person employed has lower than average productivity, thus contributing to a productivity slowdown. To this end I show how the structure of employment has evolved in selected Central and Eastern European (CEE) and euro area (EA) countries, to assess whether the structure evolves in the direction of higher- or lower-productivity jobs.
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