Structural analysis of the rise and stagnation of labour productivity in Argentina : 2004-2019 : a growing subsystems approach

This article aims to examine the recent rise and fall of productivity in Argentina through a subsystems approach. Specifically, indicators based on hyper vertically integrated (HVI) sectors for Argentina are developed using OECD Input-Output Tables. The analysis spans the period 2004-2019, harmonizing activities across 36 sectors. The results confirm, on the one hand, that productivity growth in the 2004-2011 period was due to improved macroeconomic conditions. On the other hand, they show a declining trend in productivity from 2010 onwards, highlighting the significance of a concentrated pattern of technical change and evidence of disinvestment in direct and indirect labour, and, to a lesser extent, demand composition, attributable to the growing importance of services.