1. THE TRANSATLANTIC PRODUCTIVITY GAP: A SURVEY OF THE MAIN CAUSES.
- Author
-
Ortega-Argilés, Raquel
- Subjects
PRODUCTION (Economic theory) ,ECONOMIC development ,PERFORMANCE evaluation ,RESEARCH & development ,ECONOMIC policy - Abstract
During the last 2 decades, Europe's economy experienced a productivity slowdown whereas the United States (US) economy exhibited a marked acceleration. The result is that since the early 1990s the relative productivity levels between the two regions have continuously diverged, leading to a transatlantic productivity gap. Much of the explanation for this is the strong performance of the US in the so-called 'new economy' or 'knowledge economy' and in particular the underinvestment in R&D, and as a result, productivity and innovation has been at the forefront in the European Policy agenda. However, various explanations for the US-European Union transatlantic productivity gap suggest that the picture is rather more complex than simply the effects on, or the result of, particular technology-driven sectors. [ABSTRACT FROM AUTHOR]
- Published
- 2012
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