Provide a broad perspective on the return of industrial and commercial productivity in the U.K. and determine how sustainable the new trend may be. A comparison of the U.K. and US to highlight the effects of different country-specific factors, with a focus on providing information useful to investors and senior managers.
Productivity gains may be measured in terms of relative improvements in factor, efficiency and innovation driven indicators (Schwab 2017). The United Kingdom (UK) is an innovation-driven economy and can be stimulated with the progress of systems that tend to encourage business innovation and sophistication. Efficiency gains may be achieved through investment in education and training, goods and labor markets, and the development of the financial markets (BIS 2013; Schwab 2017).
This paper examines the trends and sustainability of industrial and commercial productivity in the UK and its comparison with US with reference to a suitable macro-environment, provision of healthcare, primary education and the development of infrastructure and institutions (Baluga 2009; Brighton et al. 2016).