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Growth and Productivity

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  • Giancarlo Corsetti
  • John Flemming
  • Seppo Honkapohja
  • Willi Leibfritz
  • Gilles Saint-Paul
  • Hans-Werner Sinn
  • Xavier Vives

Abstract

This chapter compares growth in Europe and the United States in recent decades. Although Europe was, as one would expect, catching up in the 1950s and 1960s, this virtually ceased in the 1970s, and the United States has pulled further ahead in the 1980s and 1990s – and at a particularly remarkable rate in the second half of the last decade. The chapter examines the effects of general factor endowments and their accumulation with special emphasis on the role of information technology. Here the Scandinavian countries share a number of characteristics with the United States rather than the core European countries. The analysis highlights the effects of both industrial and labour market regulations in Europe as well as shortcomings in education and access to the Internet in much of the Continent. This last effect is attributed to inadequate openness of the sector to effective competition.

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Bibliographic Info

Article provided by Ifo Institute for Economic Research at the University of Munich in its journal CESifo Forum.

Volume (Year): 2002 (2002)
Issue (Month): CESIFOFORUMSPECIAL (04)
Pages: 57-70

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Handle: RePEc:ces:ifofor:v:2002:y:2002:i:cesifoforumspecial:p:57-70

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  1. Steve J. Davis & John Haltiwanger, 1991. "Gross Job Creation, Gross Job Destruction and Employment Reallocation," NBER Working Papers 3728, National Bureau of Economic Research, Inc.
  2. Pagano, Marco, 1993. "The flotation of companies on the stock market : A coordination failure model," European Economic Review, Elsevier, vol. 37(5), pages 1101-1125, June.
  3. Stephen D. Oliner & Daniel E. Sichel, 2000. "The resurgence of growth in the late 1990s: is information technology the story?," Proceedings, Federal Reserve Bank of San Francisco.
  4. Paul Beaudry & David Green, 2000. "The Changing Structure of Wages in the US and Germany: What Explains the Differences?," NBER Working Papers 7697, National Bureau of Economic Research, Inc.
  5. Francesco Caselli, 1999. "Technological Revolutions," American Economic Review, American Economic Association, vol. 89(1), pages 78-102, March.
  6. Bart Hobijn & Boyan Jovanovic, 2001. "The Information-Technology Revolution and the Stock Market: Evidence," American Economic Review, American Economic Association, vol. 91(5), pages 1203-1220, December.
  7. David H. Autor & Frank Levy & Richard J. Murnane, 2001. "The Skill Content of Recent Technological Change: An Empirical Exploration," NBER Working Papers 8337, National Bureau of Economic Research, Inc.
  8. Murphy, Brian & Wolfson, Michael, 1998. "New Views on Inequality Trends in Canada and the United States," Analytical Studies Branch Research Paper Series 1998124e, Statistics Canada, Analytical Studies Branch.
  9. Kravis, Irving B & Lipsey, Robert E, 1992. "Sources of Competitiveness of the United States and of Its Multinational Firms," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 193-201, May.
  10. Doms, Mark & Dunne, Timothy & Troske, Kenneth R, 1997. "Workers, Wages, and Technology," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 253-90, February.
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Cited by:
  1. Luc Eyraud, 2009. "Why isn't South Africa Growing Faster? a Comparative Approach," IMF Working Papers 09/25, International Monetary Fund.

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