Challenges and Drivers of Productivity: The Role of G20 Economies
This Policy Brief was first published in https://t20ind.org
While physical inputs are an important factor contributing to economic growth, and thus, the overall welfare of the global economy, productivity growth is important to sustain economic growth in the long-run. The COVID-19 pandemic led to setbacks in both productivity and economic growth across the world, thereby making it imperative to revisit the factors that determine long-term productivity. This Policy Brief (i) examines the trends in labour productivity of the G20 economies from 1991 to 2021; (ii) explains the factors thatcould influence productivityinthe long-run based on recent empirical literature; and (iii) makes suggestions to policymakers of the G20 on ways to increase and sustain productivity growth.
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