Innovative policies for sustaining productivity

Arsyoni Buana

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Tokyo

Jakarta, posted: Mon, September 3, 2018 | 03:22 pm

Productivity growth is crucial for economic development, because all of its determinants affect standards of living.(Shutterstock/File)

Productivity growth is crucial for economic development, because all of its determinants affect standards of living. This is even more relevant for developing economies. The average worker in South Korea today, for example, needs to work only about 15 weeks to live at the annual income level of the average worker in 1967, which was made possible largely by technological progress.

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TOPIC

global-economy productivity production Japan innovation Research-and-Development economic-growth