The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

The chapters in the book cover a broad range of aspects regarding the relationship between natural resource use and long-term economic development. The book surveys existing literature as well as adds to frontier research. In particular, the following topics are studied: incentives for adoption and diffusion of clean technology, resource scarcity and limits to growth, international convergence of energy intensity, and the social norms shaping resource depletion.

'Increasing energy-efficiency is important because it offers the prospect of partly solving our climate change and energy security problems without pain. This book sheds further light on the issue, focusing on energy-extensive economic activities which, by sheer volume, collectively use a substantial amount of energy. That simple fact alone makes this book worthwhile, but there are many other gems.' Richard Tol, the Economic and Social Research Institute (ESRI), Ireland This innovative book explores the adoption of energy-saving technologies and their impact on energy efficiency improvements. It contains a mix of theoretical and empirical contributions, and combines and compares economic and physical indicators to monitor and analyse trends in energy efficiency. The authors pay considerable attention to empirical research on the determinants of energy-saving investment including uncertainty, energy-price volatility and subsidies. They also discuss the role of energy modelling in policy design and the potential effect of energy policies on technology diffusion in energy-extensive sectors. Written from a multi-disciplinary perspective, this book will appeal to academics and graduates in the areas of energy-saving technologies, energy economics and natural resource economics, as well as policy-makers particularly those in energy policy.

This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries.