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Volume 53, March/April 2018, Number 2 · pp. 69-75


The Productivity Puzzle: It’s the Lack of Investment, Stupid!

Alexander Herzog-Stein, Gustav A. Horn

In recent years, advanced economies around the globe have experienced a pronounced slowdown in productivity growth. This phenomenon and especially this recent aggravation are not yet well understood, and there is no consensus on the reasons for this slowdown. Since productivity growth is the main driver of economic growth, it is essential to improve our understanding of this productivity puzzle and, if possible, to draw some lessons for crafting policies which can improve productivity growth in Europe.


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