Open AccessDoes Innovation, Investment and Trade influence Labour Productivity? Empirical Evidence from Selected Countries
Author(s) -
Cornelia Caroline
Publication year - 2021
Publication title -
management science and business decisions
Language(s) - English
Resource type - Journals
eISSN - 2767-6528
pISSN - 2767-3316
DOI - 10.52812/msbd.16
Subject(s) - productivity , investment (military) , economics , china , sample (material) , labour economics , empirical evidence , international economics , demographic economics , macroeconomics , geography , archaeology , epistemology , chromatography , politics , political science , law , philosophy , chemistry
Labour productivity is linked to improved living standards of a country, where higher productivity is usually seen as a competitive advantage for the country. The current study aims to identify the influence of investment, trade, and innovation on labour productivity using multi-regression. The sample involved four countries: the United States, Russia, Japan, and China. The results reveal varying degrees of relationships between labour productivity and other variables. In general, investment showed a strong correlation, trade showed a weaker relationship, and innovation showed insignificant relationship. When needed, the policymakers may consider raising labour productivity by improving investment or trade.