Boost technology diffusion to solve productivity puzzle – Haldane
BoE’s chief economist says a “long tail” of low-productivity firms need support
Finding ways to spread technological innovations to a large group of unproductive firms could free the UK from its lengthy period of stagnant productivity, says the Bank of England’s (BoE) Andrew Haldane.
The BoE’s chief economist challenged the idea that the economy is suffering from a lack of technical innovation during his remarks to the London School of Economics on March 20. Instead of “secular stagnation”, “secular innovation is clearly evident” for a small group of companies, he said.
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