Abstract

Is productivity the main driver of economic growth or vice versa? The comparison of productivity between countries takes into account mainly the marginal productivity of labour, while it is important to consider also productivity in absolute terms. A comparison between Italy, Germany, and France shows that the principal driver of economic growth seems to be not high productivity but rather a high employment rate. Marginal labour productivity is affected by changes in the composition of employment, and these are to be considered in order to understand the performance of growth.