Productivity Perspectives
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Productivity Perspectives

Edited by Philip McCann and Tim Vorley

Productivity Perspectives offers a timely and stimulating social science view on the productivity debate, drawing on the work of the ESRC funded Productivity Insights Network. The book examines the drivers and inhibitors of UK productivity growth in the light of international evidence, and the resulting dramatic slowdown and flatlining of productivity growth in the UK. The reasons for this so-called productivity puzzle are not well understood, and this book advances explanations and insights on these issues from different disciplinary and methodological perspectives. It will be of value to all those interested in, and engaging with, the challenge of slowing productivity growth.
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Chapter 2: Productivity perspectives: observations from the UK and the international arena

Philip McCann

Abstract

With productivity growth declining across the industrialised world, it is unsurprising that the concept has again attracted the attention of academics and policymakers in the UK and internationally. Productivity is the result of a complex interplay between many different influences, yet eight decades of research cannot adequately explain falling productivity growth since the 2008 Global Financial Crisis and the prevailing productivity puzzle in the UK. This chapter introduces key interdisciplinary contributions, before exploring new insights on productivity growth from recent research. Beyond the wide-ranging socio-economic implications discussed, the chapter also highlights the specific geographical, governance and institutional issues affecting productivity in the UK.

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