Productivity in firms
Why do firms in some countries have such higher productivity than in other countries? This understudied question lies at the heart of development economics.
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The statistics quoted at the beginning of the presentation do not discuss what types of production are being compared here. If this is the value of products of an "average" firm - then doesn't the distribution of types of services in the USA, Phillipines, Chiina make a difference? A large proportion of the USA's product is simply Financial Services which have a high market value which would inflate the USA figures. Whereas the industries in china are primarily basic manufacturing. I would expect that this is having a much greater impact on these figures than Trust or Decentralization.