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

1. Norwegian Ministry of Finance
Mexico summit
The Norwegian Productivity Commission
7. July 2015
Tore Eriksen
Norway

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. 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. 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. 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. 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. 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. Norwegian Ministry of Finance
Global dialogue on productivity
Tore Eriksen
The Norwegian Productivity Commission
www.produktivitetskommisjonen.no
19. oktober 2013Om økonomiregelverket