Explaining Variations in the Productivity and Wealth of Nations

May 2003
Management Services;May2003, Vol. 47 Issue 5, p7
Academic Journal
A study by Dr. Richard Kneller and Dr. Philip Andrew Stevens concludes that differences in productivity across various countries exist because countries vary in the efficiency with which they are able to use their stock of available technology. The study analyzed over 80 countries over a period of almost 30 years. 'Productive efficiency' is defined as the effectiveness with which a country makes use of the skills of its workforce and its stock of physical capital, and thus in the wealth of nations.


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