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Benchmarking the Lisbon Strategy

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Author Info
Demosthenes Ioannou () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.)
Marien Ferdinandusse () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.)
Marco Lo Duca () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.)
Wouter Coussens () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.)

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Abstract

This paper reviews the governance framework of the Lisbon Strategy and discusses the specific option of increasing the role of benchmarking as a means of improving the implementation record of structural reforms in the European Union. Against this background, the paper puts forward a possible avenue for developing a strong form of quantitative benchmarking, namely ranking. The ranking methodology relies on the construction of a synthetic indicator using the “benefit of the doubt” approach, which acknowledges differences in emphasis among Member States with regard to structural reform priorities. The methodology is applied by using the structural indicators that have been commonly agreed by the governments of the Member States, but could also be used for ranking exercises on the basis of other indicators. JEL Classification: D02, P11, P16, C43, C61.

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File URL: http://www.ecb.europa.eu/pub/pdf/scpops/ecbocp85.pdf
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Publisher Info
Paper provided by European Central Bank in its series Occasional Paper Series with number 85.

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Length: 57 pages
Date of creation: Jun 2008
Date of revision:
Handle: RePEc:ecb:ecbops:20080085

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Related research
Keywords: Lisbon Strategy; economic governance; benchmarking; benefit of the doubt weighting.;

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