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Why Lisbon Fails

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  • Michele Ruta

Abstract

This article looks at the political economy of structural reforms and growth in the European Union. As the EU's; economy approaches the world technology frontier, structural reforms that increase competition in intermediate goods sectors are necessary to boost innovation and productivity growth: the main objective of the Lisbon Agenda. Such reforms, however, raise the opposition of incumbents and, therefore, are politically difficult to implement. When there are important policy spillover effects, national governments are more easily captured by vested interests, as they fail to internalize the benefits of reforms on the rest of the Union. This suggests that the weak political governance of the Lisbon Agenda, which is centred on the peer pressure of national governments, and the ensuing inability to complete the single market in non-manufacturing sectors, explains the Lisbon failure. (JEL classification: D72, F42, O30, O40) Copyright , Oxford University Press.

Suggested Citation

  • Michele Ruta, 2009. "Why Lisbon Fails," CESifo Economic Studies, CESifo, vol. 55(1), pages 145-164, March.
    • Handle: RePEc:oup:cesifo:v:55:y:2009:i:1:p:145-164
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    File URL: http://hdl.handle.net/10.1093/cesifo/ifn027
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    Cited by:

    1. Georgiana-Raluca Ladaru & Florian Marin & Ionica-Ionelia Diaconu, 2018. "The Situation of the Absorption of European Structural and Investment Funds in Romania during the Programming Period 2014-2020," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 8(3), pages 45-52, July.
    2. Ioannou, Demosthenes & Stracca, Livio, 2014. "Have the euro area and EU governance worked? Just the facts," European Journal of Political Economy, Elsevier, vol. 34(C), pages 1-17.
    3. Mehmet Çolak & Aylin Ege, 2013. "An Assessment of EU 2020 Strategy: Too Far to Reach?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 110(2), pages 659-680, January.

    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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