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Shiji Zhao Productivity Commission

An overview of Australia’s productivity performance. Shiji Zhao Productivity Commission. PC-ABS Productivity Perspective Conference 2012, Canberra 20 th November 2012. Outline. Australia’s productivity performance of market sector Recent development Productivity at industry level

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Shiji Zhao Productivity Commission

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  1. An overview of Australia’s productivity performance Shiji ZhaoProductivity Commission PC-ABS Productivity Perspective Conference 2012, Canberra 20th November 2012

  2. Outline • Australia’s productivity performance of market sector • Recent development • Productivity at industry level • Recent development; and • Trend over a longer period • Contribution of changes in the composition of human capital to • Labour productivity • Economic growth • Key messages

  3. Multifactor productivity

  4. Multifactor productivity growth

  5. Industry MFP growth rates

  6. Causes for the slowdown in Mining and Utility • Lumpy investment • Both mining and utility industries • Depletion of natural resources • Mining industry • Technology change • Electricity supply • Imperfect (output) measurement • Water supply

  7. Further information (www.pc.gov.au) • Topp, V., Soames, L., Parham, D. and Bloch H., (2008) Productivity in the Mining Industry: Measurement and Interpretation, Productivity Commission Staff Working Paper, December • Topp, V. and Kulys, T. (2012) Productivity in Electricity, Gas and Water: Measurement and Interpretation, Productivity Commission Staff Working Paper, Canberra

  8. MFP growth by industry

  9. MFP growth between 1985-86 to 2010-11

  10. Indexes of labour inputfor the 12 industry market sector 157.7 134.9

  11. Labour Productivity Indexesfor the 12 industry market sector 195.1 167.2

  12. Decomposition of Real Gross Domestic Income (GDI)

  13. GDI Decomposition

  14. Key messages • In the recent decade, MFP growth slowed down • For the market sector as a whole and across many industries • Mining and utility industries • Long term productivity performance was diverse across industries • The effect of human capital made a significant contribution to the growth of Australia’s real income

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