What is it about?

What are productivity enhancers across countries and industries? This paper focuses on several key multifactor productivity growth enhancers.

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Why is it important?

Multifactor productivity growth is an important engine of economic growth, and productivity differences create income differences across countries/regions


The productivity effects of intangible assets and economies of scale are large in high-tech and knowledge-intensive industries. The effects of intangible assets became more prominent after the global financial crisis. The greater the productivity effect of intangible assets is, the higher a country’s per-capita income and/or governance quality becomes. There is an inverted U-shaped nonlinear relationship with productivity advancement and debt. Corporate cash holdings are negatively (positively) associated with productivity development in five (three) countries.

Dr. Ryota Nakatani
International Monetary Fund

Read the Original

This page is a summary of: Multifactor productivity growth enhancers across industries and countries: firm-level evidence, Eurasian Economic Review, May 2024, Springer Science + Business Media,
DOI: 10.1007/s40821-024-00265-8.
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