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The Norwegian Productivity Commission Productivity Summit 6-7 july 2015 Mexico

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The Norwegian Productivity Commission Productivity Summit 6-7 july 2015 Mexico

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The Norwegian Productivity Commission Productivity Summit 6-7 july 2015 Mexico

  1. 1. Norwegian Ministry of Finance Mexico summit The Norwegian Productivity Commission 7. July 2015 Tore Eriksen Norway
  2. 2. Norwegian Ministry of Finance Background • Slowdown of productivity growth globally • Normalization of terms of trade, after a decade of gains • Oil investments and oil production have peaked • Ageing population affects productivity growth and GDP/Capita Need for reforms to enhance productivity growth across the whole economy 7th July 2015Global dialogue on productivity
  3. 3. Norwegian Ministry of Finance Labour productivity in selected OECD countries Index 1995=100 100 105 110 115 120 125 130 135 140 145 150 100 105 110 115 120 125 130 135 140 145 150 1995 1998 2001 2004 2007 2010 2013 Mainland Norway Denmark Germany Sweden US
  4. 4. Norwegian Ministry of Finance Background • Slowdown of productivity growth globally • Normalization of terms of trade, after a decade of gains • Oil investments and oil production have peaked • Ageing population affects productivity growth and GDP/Capita Need for reforms to enhance productivity growth across the whole economy 7th July 2015Global dialogue on productivity
  5. 5. Norwegian Ministry of Finance Research based tradition • Government appointed commissions • Followed by White papers from the government • Active use of research from Norway and abroad (other Nordic countries, OECD) • Often consensus based reforms • Less drive for reforms in good times 7th July 2015Global dialogue on productivity
  6. 6. Norwegian Ministry of Finance The Commission • Expert commission appointed in February 2014 • Temporary body • Mandate from the Ministry of Finance • First report in February 2015, second report in February 2016 • Open process (seminars, meetings) 7th July 2015Global dialogue on productivity
  7. 7. Norwegian Ministry of Finance Next step • Substantial potential for increased productivity through structural reforms • Some reforms are politically difficult • Three topics for part II of the Commissions work 1. Improved links between research and business 2. Better use of the potential labour force 3. Increased productivity in the public sector 7th July 2015Global dialogue on productivity
  8. 8. Norwegian Ministry of Finance Global dialogue on productivity Tore Eriksen The Norwegian Productivity Commission www.produktivitetskommisjonen.no 19. oktober 2013Om økonomiregelverket

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