Australia’s productivity performance over the last decade has slipped. Our commodity boom and terms of trade boost have masked that performance.
Given the likelihood that Australia’s terms of trade will decline as the commodity price cycle runs its course, the need to improve Australia’s medium and long-term productivity performance becomes even more pressing if we are to continue to raise living standards in our nation.
Understanding Productivity – Australia’s Choice examines Australia’s productivity slowdown more broadly while also investigating the industry specific factors that have contributed to a decline in Multi-Factor Productivity.
This report provides a number of practical recommendations aimed at boosting Australia’s productivity growth.
We can do much better than we currently are – and Understanding Productivity provides a road map for how to achieve it.