Scotland's productivity performance: latest data and insights

Kenny Richmond, Jennifer Turnbull

    Research output: Contribution to journalArticle

    Abstract

    This paper reviews the latest data and evidence on Scotland’s recent productivity performance, including comparisons with the UK and internationally. It analyses trends in a number of the drivers of productivity, and considers how these have influenced productivity performance. This analysis develops our evidence base further, helping to inform discussions on where policy should focus across the drivers of innovation, internationalisation, investment and inclusive growth. The evidence suggests that Scotland’s weak productivity growth and level is due to a mix of several factors, including: ‘labour hoarding’; low interest rates and ‘forbearance’ by banks; reduced business investment; slowing innovation; and a declining number of exporters. The analysis highlights the need to continue a policy focus on innovation, internationalisation and investment as ways to improve Scotland’s productivity performance and contribute to inclusive growth.
    LanguageEnglish
    Pages77-90
    Number of pages14
    JournalFraser of Allander Economic Commentary
    Volume39
    Issue number2
    Publication statusPublished - Nov 2015

    Fingerprint

    Productivity
    Scotland
    Innovation
    Internationalization
    Business investment
    Productivity growth
    Forbearance
    Factors
    Interest rates
    Labor hoarding
    Exporters

    Keywords

    • Scottish economic conditions
    • Scottish economy
    • Fraser of Allander

    Cite this

    Richmond, Kenny ; Turnbull, Jennifer. / Scotland's productivity performance : latest data and insights. In: Fraser of Allander Economic Commentary. 2015 ; Vol. 39, No. 2. pp. 77-90.
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    Scotland's productivity performance : latest data and insights. / Richmond, Kenny; Turnbull, Jennifer.

    In: Fraser of Allander Economic Commentary, Vol. 39, No. 2, 11.2015, p. 77-90.

    Research output: Contribution to journalArticle

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