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Golden Growth : Restoring the Lustre of the European Economic Model


  • Martin Raiser
  • Indermit S. Gill


Europe's growth will have to be golden in yet another sense. Economic prosperity has brought to Europeans the gift of longer lives, and the continent's population has aged a lot over the last five decades. Over the next five, it will age even more by 2060; almost a third of Europeans will be older than 65 years. Europe will have to rebuild its structures to make fuller use of the energies and experience of its more mature population's people in their golden years. These desires and developments already make the European growth model distinct. Keeping to the discipline of the golden rule would make it distinguished. This report shows how Europeans have organized the six principal economic activities trade, finance, enterprise, innovation, labor, and government in unique ways. But policies in parts of Europe do not recognize the imperatives of demographic maturity and clash with growth's golden rule. Conforming growth across the continent to Europe's ideals and the iron laws of economics will require difficult decisions. This report was written to inform them. Its findings the changes needed to make trade and finance will not be as hard as those to improve enterprise and innovation; these in turn are not as arduous and urgent as the changes needed to restructure labor and government. Its message the remedies are not out of reach for a part of the world that has proven itself both intrepid and inclusive.

Suggested Citation

  • Martin Raiser & Indermit S. Gill, 2012. "Golden Growth : Restoring the Lustre of the European Economic Model," World Bank Publications, The World Bank, number 6016, March.
  • Handle: RePEc:wbk:wbpubs:6016

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    References listed on IDEAS

    1. World Bank, 2007. "Global Monitoring Report 2007 : Millennium Development Goals, Confronting the Challenges of Gender Equality and Fragile States," World Bank Publications, The World Bank, number 6637.
    2. World Bank & International Monetary Fund, 2009. "Global Monitoring Report 2009 : A Development Emergency," World Bank Publications, The World Bank, number 2625, March.
    3. Wipo, 2011. "World Intellectual Property Indicators, 2011 edition," WIPO Economics & Statistics Series, World Intellectual Property Organization - Economics and Statistics Division, number 2011:941, October.
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