THE LISBON STRATEGY AND THE EU’S STRUCTURALPRODUCTIVITY PROBLEM
Table of ContentsExecutive Overview1. Introduction
2. EU Productivity Trends at the Economy Wide Level : A Comparison with the US
2.1 : Overview of Main Trends2.2 : ICT as an explanatory factor at the total economy level 2.3 : Are low EU productivity growth rates likely to be a permanent phenomenon or atemporary blip linked to labour market reforms ?
3. The structural nature of the EU’s Productivity Problem – A Sectoral / Industry LevelBreakdown
3.1 : Productivity trends at the sectoral level : Manufacturing, Private Services, Rest of Economy (Primary Industries + Public Services)3.2 : A 56 Industry breakdown of labour productivity trends : Where are the EU’s problems emanating from ?3.3 : Are the ICT productivity gains coming from the production of ICT goods and services, from ICT capital deepening or from spillover effects ?
4 : Enhancing the EU’s productivity performance : Focussing on the Production andAbsorption of New Technologies is the key to any effective Long Run Productivity Strategy
4.1 : Why the knowledge economy must be a central element of any EU productivityagenda ?4.2 : Evidence that the US has a superior innovation model in terms of knowledgecreation and absorption4.3 : Reforming the EU’s Innovation Capacity : Action is needed in terms of resources, framework conditions and linkages
5. Summary of Key Findings and Policy ConclusionsAnnexes
1. Sources of wealth differentials between the EU and the US and the ongoing controversyover measurement issues2. Literature review on innovation, productivity and growth3. How does the EU compare at the global level in terms of productivity trends4. The EU’s slow growth problem5. Value added shares and productivity growth rates of the 56 industries6. Levels analysis for the 56 industries (EU15 value added, productivity and employment levels relative to US)7. Additional tables and graphs
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