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This paper provides thorough analysis for the changes in total factor productivity TFP and its main determinants in the private business sector through a diagrammatic overview for the patterns of variation over the period from 1949 to 2013. This study attempts to pinpoint the main causes of the TFP slowdown in the US economy and in the OECD countries. Due to data unavailability- during the time at which the research in this paper has been executed- the analysis for the growth in TFP covers the period between 1995 and 2013 for the selected sample from the Organization for Economic Co-operation and Development economies (OECD). Throughout this period, the collected data reveal an interesting narrative about the slowdown in TFP. Especially after 2004 partly due to a slowdown in capital intensity and capital deepening, a slowdown in the start-ups and small ventures shares in the business sector, and a slowdown in investment growth in recent years.

This paper aims to explore the patterns and causes of change in total factor productivity TFP in the U.S. manufacturing industries during the Great Recession period (2007-2009). Using STATA statistical software this study fits a conventional Cobb-Douglas production function, and a Levinsohn and Petrin (2003) production function to estimate TFP using labour hours as a free variable, capital services as a state variable and intermediate inputs as a proxy for unobservable productivity shocks. The LP and OLS TFP estimates at the industry level reveal an interesting story where the growth in productivity in each industry slowed down during and after the years of the (2007-2009) economic turbulence in the U.S. economy. This post-recession slowdown has been widespread and occurred in 70% of the world's advanced, emerging and developing economies, as well as 80% of the world's poorly developed economies. There can be all manner of reason as to what stands behinds this slowdown in TFP, as it is fairly difficult to pinpoint the exact factors that contributed to it, but it can be partly put down to the slowdown in the share of start-ups, deceleration in capital intensity and capital deepening, and a decrease in investment in the aftermath of the recession.