Weak productivity: the role of financial factors and policies

Joint BIS-IMF-OECD conference co-sponsored by the Global Forum on Productivity on "Weak productivity: the role of financial factors and policies", OECD Headquarters, Paris, 10-11 January 2018. 

The Bank for International Settlements, the International Monetary Fund and the Organisation for Economic Co-operation and Development, with the co-sponsorship of the Global Forum on Productivity, are jointly organising a conference on "Weak productivity: the role of financial factors and policies". 

Financial systems play a vital role in boosting productivity growth by allocating resources efficiently and facilitating investment and innovation. But they are also prone to costly booms and busts, which can leave deep scars on the productive tissue of the economy. Indeed, in the aftermath of the 2008 global financial crisis, productivity growth has stagnated in advanced economies despite very easy monetary conditions. Yet, even before the crisis productivity had already been slowing in several countries. To what extent are these developments explained by financial factors and policy actions? What policies are needed today to speed up the recovery in productivity growth? 

The event will take place at the OECD headquarters, Paris, France, on Wednesday 10 and Thursday 11 January 2018. 

Conference highlights include lectures by Philippe Aghion (College de France and London School of Economics) and Luigi Zingales (University of Chicago Booth School of Business) as well as a panel discussion featuring Claudio Borio (Head of the Monetary and Economic Department at the Bank for International Settlements), Karolina Ekholm (State Secretary of the Swedish Ministry of Finance) and Maurice Obstfeld (Chief Economist at the International Monetary Fund).