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Productivity and Economic Growth in Europe: A Comparative Industry Perspective

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Author Info

  • Marcel P. Timmer

    ()

  • Robert Inklaar

    ()

  • Mary O'Mahony

    ()

  • Bart van Ark

    ()

Abstract

Why did European productivity growth slow down while American growth accelerated since the 1990s? In this article we provide a detailed analysis of the sources of growth from a comparative industry perspective, based on our recent book Economic Growth in Europe. We argue that Europe’s falling behind is the combined result of a severe productivity slowdown in traditional manufacturing and other goods production, and a concomitant failure to invest in and reap the benefits from Information and Communications Technology (ICT), in particular in market services. The analysis is based on an update of the EU KLEMS growth accounting database and introduces a new measure for patterns of growth.

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File URL: http://www.csls.ca/ipm/21/IPM-21-Timmer-et-al.pdf
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Bibliographic Info

Article provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.

Volume (Year): 21 (2011)
Issue (Month): (Spring)
Pages: 3-23

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Handle: RePEc:sls:ipmsls:v:21:y:2011:1

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Related research

Keywords: productivity; manufacturing; information and communications technology; market services; growth accounting; Europe;

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References

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  1. Nick Bloom & John Van Reenen, 2006. "Measuring and Explaining Management Practices Across Firms and Countries," NBER Working Papers 12216, National Bureau of Economic Research, Inc.
  2. Marcel P. Timmer & Bart van Ark, 2005. "Does information and communication technology drive EU-US productivity growth differentials?," Oxford Economic Papers, Oxford University Press, vol. 57(4), pages 693-716, October.
  3. de la Grandville,Olivier, 2009. "Economic Growth," Cambridge Books, Cambridge University Press, number 9780521898010, October.
  4. Martin Neil Baily & Jacob Funk Kirkegaard, 2004. "Transforming the European Economy," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 353.
  5. Inklaar, Robert & Timmer, Marcel & van Ark, Bart, 2006. "Mind the gap! International Comparisons of Productivity in Services and Goods Production," GGDC Research Memorandum GD-89, Groningen Growth and Development Centre, University of Groningen.
  6. Robert Inklaar & Marcel P. Timmer, 2007. "Of Yeast and Mushrooms: Patterns of Industry-Level Productivity Growth," German Economic Review, Verein für Socialpolitik, vol. 8, pages 174-187, 05.
  7. Jorgenson, D.W. & Timmer, Marcel, 2010. "Structural Change in Advanced Nations: A New Set of Stylised Facts," GGDC Research Memorandum GD-115, Groningen Growth and Development Centre, University of Groningen.
  8. Robert Inklaar & Marcel P. Timmer & Bart van Ark, 2008. "Market services productivity across Europe and the US," Economic Policy, CEPR & CES & MSH, vol. 23, pages 139-194, 01.
  9. Mary O'Mahony & Marcel P. Timmer, 2009. "Output, Input and Productivity Measures at the Industry Level: The EU KLEMS Database," Economic Journal, Royal Economic Society, vol. 119(538), pages F374-F403, 06.
  10. Timmer,Marcel P. & Inklaar,Robert & O'Mahony,Mary & Ark,Bart van, 2010. "Economic Growth in Europe," Cambridge Books, Cambridge University Press, number 9780521198875, October.
  11. van Ark, Bart & Hao, Janet X. & Corrado, Carol & Hulten, Charles, 2009. "Measuring intangible capital and its contribution to economic growth in Europe," EIB Papers 3/2009, European Investment Bank, Economics Department.
  12. Carol Corrado & Charles Hulten & Daniel Sichel, 2009. "Intangible Capital And U.S. Economic Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 661-685, 09.
  13. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-98, June.
  14. de la Grandville,Olivier, 2009. "Economic Growth," Cambridge Books, Cambridge University Press, number 9780521725200, October.
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Cited by:
  1. Gaaitzen De Vries & Neil Foster-McGregor & Robert Stehrer, 2012. "Offshoring and the Skill Structure of Labour Demand," wiiw Working Papers 86, The Vienna Institute for International Economic Studies, wiiw.
  2. Lindič, Jaka & Bavdaž, Mojca & Kovačič, Helena, 2012. "Higher growth through the Blue Ocean Strategy: Implications for economic policy," Research Policy, Elsevier, vol. 41(5), pages 928-938.

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