Productivity Trends in Advanced Countries between 1890 and 2012

• DOI: 10.1111/roiw.12185
• Publication Date: 2015-03-11T02:31:33Z
• Authors: Antonin Bergeaud; Gilbert Cette; Rémy Lecat
• Keywords: LEAPS; Industrial Revolution

In order to examine productivity waves and convergence processes, we study trends, trend breaks, levels for 13 advanced countries between 1890 2012. We highlight two waves, a big one following the second industrial revolution smaller ICT revolution. The process has been erratic, halted by inappropriate institutions, technology shocks, financial crises, above all wars, which led major level leaps, downwards experiencing war on their soil, upwards other countries. Productivity breaks have identified global supply policy changes. upward break U . S in mid‐1990s confirmed, as downward euro area same period.