Europe’s missing Yollies
AbstractEurope’s lackluster capacity to generate growth and particularly productivity growth is for a significant part attributable to a subdued capacity to innovate. Policies aimed at boosting growth through research and development have not delivered. Private R&D intensity remains to date low (and productivity growth has declined). Looking at potential causes for this poor performance, analysis has looked at the importance of sector specialization as well as churning problems and firm demography. In this paper we go further by linking the two dimensions. We show that the EU’s business R&D deficit with the US can be almost entirely explained by the EU having fewer young leading innovators and, even more importantly, having fewer of these in new high-R&D intensive sectors. It addresses the implications of this finding for EU’s research and innovation policy design.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/106349.
Date of creation: 01 Nov 2011
Date of revision:
Publication status: Published in: Reflets et perspectives de la vie économique (2011) v.50 n° 3,p.93-105
Note: This is a translation of: Europe’s missing Yollies
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EU-US R&D intensity gap; young leading innovators; industrial str;
Other versions of this item:JEL classification:
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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