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Living standards around the globe could edge down unless governments invest more in research and education, thus helping to revive poor productivity growth. That’s what International Monetary Fund Managing Director Christine Lagarde stressed on Monday.
Lagarde told in a speech in Washington that the private sector alone won’t be able to generate enough innovation to increase productivity to decent levels without government active assistance.
Her remarks were accompanied by the publication of an IMF research that found that the 2008-2009 financial downtime along with deep recession played a greater role in slowing productivity than previously expected, choking global demand and investment.
Economists have long explored productivity gains as significant for sustaining higher wages as well as living standards, though they have struggled to explain a protracted slowdown in productivity surge since the early 2000s.
In February, German business confidence reached hit its weakest value for almost five years without any signs of a turnaround yet in sight, as follows from a closely-watched business poll published on Friday…
In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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