Understanding the reasons for this surge is critical to judging the likely path of productivity and potential supply going forward. Some of the step-up in productivity growth since 2000 probably reflects cyclical influences or factors that may offer only one-time improvements in the production process.
In particular, I am pleased by the fact that the organisers have gathered around this table both officials from international organisations, central banks and sovereign wealth funds as well as representatives from the academia and the private sector.