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Transforming the European Economy

Author

Listed:
  • Martin Neil Baily

    (Peterson Institute for International Economics)

  • Jacob Funk Kirkegaard

    (Peterson Institute for International Economics)

Abstract

Europe grew rapidly for many years, but now, faced with greater challenges, several of the large economies in Europe have either failed to generate enough jobs or have failed to achieve the highest levels of productivity or both. This study explores why Europe's growth slowed, what contribution information technology makes to growth, and what policies could facilitate economic transformation. It emphasizes a system with strong work incentives and a high level of competitive intensity. Europe doesn't need to eliminate its protections for individuals, the authors conclude, but both social programs and policies toward business must be reoriented so that they encourage economic change.

Suggested Citation

  • Martin Neil Baily & Jacob Funk Kirkegaard, 2004. "Transforming the European Economy," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 353.
  • Handle: RePEc:iie:ppress:353
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    Citations

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    Cited by:

    1. Bart van Ark & Mary O’Mahony & Marcel P. Timmer, 2012. "Europe’s Productivity Performance in Comparative Perspective: Trends, Causes and Recent Developments," Chapters,in: Industrial Productivity in Europe, chapter 3 Edward Elgar Publishing.
    2. Crafts, Nicholas, 2010. "The contribution of new technology to economic growth: lessons from economic history," Revista de Historia Económica, Cambridge University Press, vol. 28(03), pages 409-440, December.
    3. Rafael Fernández & Enrique Palazuelos, 2009. "Labor productivity: a comparative analysis of the European Union and United States, for the period 1994-2007," Working Papers wp208, Political Economy Research Institute, University of Massachusetts at Amherst.
    4. ., 2013. "Revisiting U.S. Productivity Growth over the Past Century with a View of the Future," Chapters,in: World Economic Performance, chapter 12, pages 317-370 Edward Elgar Publishing.
    5. Jacob Funk Kirkegaard, 2005. "Outsourcing and Offshoring: Pushing the European Model Over the Hill, Rather Than Off the Cliff!," Working Paper Series WP05-1, Peterson Institute for International Economics.
    6. Crafts, Nicholas & Toniolo, Gianni, 2008. "European Economic Growth, 1950-2005: An Overview," CEPR Discussion Papers 6863, C.E.P.R. Discussion Papers.
    7. George Gelauff & Arjan Lejour, 2006. "Five Lisbon highlights; the economic impact of reaching these targets," CPB Document 104, CPB Netherlands Bureau for Economic Policy Analysis.
    8. Bart van Ark & Mary O'Mahoney & Marcel P. Timmer, 2008. "The Productivity Gap between Europe and the United States: Trends and Causes," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 25-44, Winter.
    9. Marcel P. Timmer & Robert Inklaar & Mary O'Mahony & Bart van Ark, 2011. "Productivity and Economic Growth in Europe: A Comparative Industry Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 21, pages 3-23, Spring.
    10. Ian Dew-Becker & Robert J. Gordon, 2008. "The Role of Labor Market Changes in the Slowdown of European Productivity Growth," NBER Working Papers 13840, National Bureau of Economic Research, Inc.
    11. Robert J. Gordon & Ian Dew-Becker, 2005. "Why did Europe’s productivity catch-up sputter out? a tale of tigers and tortoises," Proceedings, Federal Reserve Bank of San Francisco.
    12. Crafts, Nicholas, 2012. "Western Europe's Growth Prospects: an Historical Perspective," CEPR Discussion Papers 8827, C.E.P.R. Discussion Papers.
    13. Andrew Sharpe, 2007. "Lessons for Canada from International Productivity Experience," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 20-37, Spring.
    14. ., 2013. "Europe's Productivity Performance in Comparative Perspective: Trends, Causes and Projections," Chapters,in: World Economic Performance, chapter 11, pages 290-316 Edward Elgar Publishing.
    15. Palazuelos, Enrique & Fernández, Rafael, 2009. "Demand, employment, and labour productivity in the European economies," Structural Change and Economic Dynamics, Elsevier, vol. 20(1), pages 1-15, March.
    16. Matt Kellison, 2004. "The McKinsey Global Institute Productivity Studies: Lessons for Canada," CSLS Research Reports 2004-10, Centre for the Study of Living Standards.
    17. Ferrán Brunet, 2013. "Convergence and Divergences in the European Economy: Rebalancing and Being Competitive in a Non-optimal Monetary Union," Working Papers 03/13, Instituto Universitario de Análisis Económico y Social.
    18. [multiple or corporate authorship]., 2007. "UK productivity during the Blair era," LSE Research Online Documents on Economics 58011, London School of Economics and Political Science, LSE Library.
    19. Gelauff, George & Lejour, Arjan, 2006. "The new Lisbon Strategy: An estiamtion of the impact of reaching 5 Lisbon targets," MPRA Paper 16168, University Library of Munich, Germany.
    20. Wilhelm Kohler, 2006. "The “Lisbon Goal” of the EU: Rhetoric or Substance?," Journal of Industry, Competition and Trade, Springer, vol. 6(2), pages 85-113, June.

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