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Productivity Growth in the Nordic Countries

An Appraisal of Analysis, Data and Methodological Information

image of Productivity Growth in the Nordic Countries

Even small increases in a country's growth rate can result in large changes in living standards over just one generation. This key insight, which often seems to be forgotten by policymakers, is an important reason why the field of economic growth continues to be a large research field. This report provides an overview of the development of labor productivity in the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden) since the early 1980s. It also examines if data are consistent with predictions of traditional theories of growth. The analysis shows, for example, that the real wage per employee is positively related to the level of labor productivity - a finding suggesting that changes in relative standards of living have been driven by parallel changes in relative productivity.

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Concluding Remarks

This Report is the product of a joint Nordic effort to bring together the analytical and data work from each of the Nordic countries in order to boost progress in terms of analysis and data production for the region as a whole. The Report also presents new analysis (at least to our knowledge).

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