Productivity, Economic Dynamism and the “Failure of Competition” Narrative*

IF 0.9 Q3 ECONOMICS
Stephen P. King
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引用次数: 0

Abstract

Productivity growth has declined in Australia and other developed countries over the past two decades. It has been argued that reduced dynamism and the failure of competition at an economy-wide level is to blame, leading to calls for broad competition policy reforms. In this paper we consider the theoretical and empirical evidence to support this “failure of competition” narrative. We find that the evidence, at best, is ambiguous. Competition failures in some areas support the need for reform, but the competition landscape across Australia is complex and there is no simple link between indicators of competition, such as concentration levels; indicators of reduced dynamism, such as falling business investment, and falling productivity growth.

生产力、经济动力论与“竞争失败”叙事*
在过去二十年中,澳大利亚和其他发达国家的生产力增长有所下降。有人认为,活力的减弱和整个经济层面的竞争失败是罪魁祸首,导致人们呼吁进行广泛的竞争政策改革。在本文中,我们考虑了支持这种“竞争失败”叙事的理论和实证证据。我们发现,证据充其量是模棱两可的。一些领域的竞争失败支持了改革的必要性,但澳大利亚各地的竞争格局很复杂,集中度等竞争指标之间没有简单的联系;活力下降的指标,如商业投资下降和生产率增长下降。
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来源期刊
Economic Papers
Economic Papers ECONOMICS-
CiteScore
2.30
自引率
0.00%
发文量
23
期刊介绍: Economic Papers is one of two journals published by the Economics Society of Australia. The journal features a balance of high quality research in applied economics and economic policy analysis which distinguishes it from other Australian journals. The intended audience is the broad range of economists working in business, government and academic communities within Australia and internationally who are interested in economic issues related to Australia and the Asia-Pacific region. Contributions are sought from economists working in these areas and should be written to be accessible to a wide section of our readership. All contributions are refereed.
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