Edited by Philip McCann and Tim Vorley
Chapter 2: Productivity perspectives: observations from the UK and the international arena
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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