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Structural Reforms as a Panacea? The European Productivity and Growth Puzzle

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  • Daniel Gros

    (Centre for European Policy Studies (CEPS))

Abstract

Most of Southern Europe is only gradually emerging from the devastating effects of the eurozone crisis, with unemployment receding only gradually and a country as big as Italy seemingly stuck in a growth rate below one per cent even as risk premia have fallen dramatically. But Europe is more than a collection of special cases. There is a broader trend, which affects all countries: growth is falling and certainly falling far short of expectations. The recipe almost universally recommended is "structural reforms". But this is a recipe that has been tried intensively in recent decades, and it has failed.

Suggested Citation

  • Daniel Gros, 2016. "Structural Reforms as a Panacea? The European Productivity and Growth Puzzle," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 51(6), pages 318-320, November.
    • Handle: RePEc:spr:intere:v:51:y:2016:i:6:d:10.1007_s10272-016-0627-6
    DOI: 10.1007/s10272-016-0627-6
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    Cited by:

    1. Milone, Luciano Marcello, 2020. "Structural Reforms in the European Union: What is New after the Crisis?," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 73(3), pages 351-372.

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