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Shadow banking: accounting for Canada's productivity gap

Shadow banking: accounting for Canada's productivity gap Purpose – The paper's purpose is to show that the reported (and growing) labour productivity gap between the G7 and OECD countries and the USA might be a factor of the rapid adoption of shadow banking structures and techniques in the USA versus the adoption of those structures in OECD and G7 economies. Design/methodology/approach – The paper explains the concept and practice of shadow banking and explores the ways in which the various conventions adopted distort reported productivity figures. Findings – The growing adoption of shadow banking over the period 1974‐2007 has had the effect of increasing the metrics for labour productivity over the same period. Practical implications – It is clear that those who wish to understand the apparent growing gap between labour productivity of the USA and other G7/OECD nations must look beyond the simple reported figures to identify the ways in which figures are calculated and reported. Originality/value – The paper shows that reporting of figures to established conventions can be affected by a range of factors, not apparent from looking at those conventions themselves. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Productivity and Performance Management Emerald Publishing

Shadow banking: accounting for Canada's productivity gap

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1741-0401
DOI
10.1108/17410401111182233
Publisher site
See Article on Publisher Site

Abstract

Purpose – The paper's purpose is to show that the reported (and growing) labour productivity gap between the G7 and OECD countries and the USA might be a factor of the rapid adoption of shadow banking structures and techniques in the USA versus the adoption of those structures in OECD and G7 economies. Design/methodology/approach – The paper explains the concept and practice of shadow banking and explores the ways in which the various conventions adopted distort reported productivity figures. Findings – The growing adoption of shadow banking over the period 1974‐2007 has had the effect of increasing the metrics for labour productivity over the same period. Practical implications – It is clear that those who wish to understand the apparent growing gap between labour productivity of the USA and other G7/OECD nations must look beyond the simple reported figures to identify the ways in which figures are calculated and reported. Originality/value – The paper shows that reporting of figures to established conventions can be affected by a range of factors, not apparent from looking at those conventions themselves.

Journal

International Journal of Productivity and Performance ManagementEmerald Publishing

Published: Nov 1, 2011

Keywords: Shadow banking; Canada; United States of America; Labour productivity; Financial innovation; Velocity of money; Banking; Economic growth

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