The rate of productivity growth both in advanced countries and developing countries has been decreasing. No one can account for the reason.
For example, in the USA. The liquidity of labor market is high, and replacing old enterprises with new one is vigorous. The advanced IT companies including Google and Amazon lead the innovation in the world.
Even though the growth productivity in the nonagricultural sectors largely dropped at 0.2% in 2016 from the average rate of 3.0% from 1995 to 2005.
The fact tells us that it’s impossible to raise the productivity only by a part of advanced industries or companies. In the IT revolution period in last 1990s, the productivity increased by utilizing the Internet in everywhere, and by creating variety of jobs and employment. Such a dynamism has been lost. It’s one of the reasons of the productivity stagnant.
Policies which deprive the dynamism will not bring us the productivity increase.