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La « contre-performance » de l'Europe continentale. Le lien entre institutions, dynamisme et prospérité économique

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  • Edmund S. Phelps
  • Éloi Laurent

Abstract

While most continental European economies have exhibit deceiving outcomes for two decades, it seems necessary ? and it reveals fruitful ? to elaborate an ??institutional hypothesis?? to understand this failure. Our central reasoning is the following?: it is in the absence or the muffling of economic institutions able to generate ??dynamism?? that one must search for the explanation of the economic underperformance in continental Europe. After having carefully defined the idea of ??economic performance?? and the concept of ??dynamism??, we study in details the respective institutional advantages of the capitalist and corporatist systems, drawing on a number of theoretical approaches aimed at best identifying their strengths and weaknesses regarding the crucial issue of innovation process. Finally, we propose a first series of empirical tests for our theoretical intuition, that, while only preliminary, prove positive. JEL Codes ?: N23, N24, N13, N14, 031, 033, P17, P51.

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  • Edmund S. Phelps & Éloi Laurent, 2005. "La « contre-performance » de l'Europe continentale. Le lien entre institutions, dynamisme et prospérité économique," Revue de l'OFCE, Presses de Sciences-Po, vol. 92(1), pages 9-41.
  • Handle: RePEc:cai:reofsp:reof_092_0009
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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