- Edited by Dale W. JORGENSON, FUKAO Kyoji, and Marcel P. TIMMER
The RIETI research program entitled "Raising Industrial and Firm Productivity" has joined the World KLEMS Project, a research consortium led by Harvard University Professor Dale W. Jorgenson, providing high quality data for the measurement of industry-level productivity (called "KLEMS data sets") for Japan and China, i.e., the JIP Database and the CIP Database, thereby enabling international productivity comparisons across countries including Japan and China. As part of this international collaboration, the Third World KLEMS Conference was held in Tokyo in August 2014, with RIETI and other institutes including Hitotsubashi University serving as co-hosts. In the run-up to this, RIETI also organized RIETI World KLEMS Symposium in May 2014. The World Economy: Growth or Stagnation?, the fruit of collaboration of the world's leading researchers on productivity based on their research papers presented at these events, analyzes from various perspectives the current status and future of the world economy, which is said to have entered secular stagnation.