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Investment-Specific Productivity Growth

Chile in a Global Perspective

Investment-Specific Productivity Growth by Gabriel Di Bella
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By the end of 2007, Chile''s total factor productivity was lower than ten years earlier, a performance that contrasted sharply with the previous decade, when productivity grew by a cumulative 30 percent. This paper assesses productivity trends in Chile, by decomposing productivity into investment-specific technological change (associated with improvements in the quality of capital) and neutral technological change (related to the organization of productive activities). It concludes that investment-specific technological improvements have contributed significantly to long-term growth in Chile, in line with trends observed in other net commodity exporters, while neutral technological change has been slow.
International Monetary Fund; December 2009
16 pages; ISBN 9781452795461
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Title: Investment-Specific Productivity Growth
Author: Gabriel Di Bella; Martin Cerisola