| Since 1997, strong growth of
the French economy has also generated much employment. Such a trend, which reflects
the deceleration of productivity growth, could be worrying were it to affect competitiveness.
However, productivity growth in manufacturing industry, which is especially exposed
to international competition, appears to have maintained a constant level since
the 1970s. From this point of view, comparisons made with Germany, the United
Kingdom and Spain highlight the specificity of the French case. The macroeconomic
policy adopted as of 1983 has forced French firms to control prices and costs,
via wage moderation and productivity gains. Comparisons based on an evaluation
of production within a single price system indicate that, at the end of the 1990s,
France had lower prices and costs as well as better productivity levels than Germany
and the United Kingdom. |
Abstract |
