Technology Diffusion, Services, and Endogenous Growth in Europe. is the Lisbon Strategy Useful?
May 1, 2005
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Summary
We explore the role of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous-time model is estimated on several European countries, Japan, and the United States. Policy simulations illustrate the benefits for EU growth of the deepening of the single market, the reduction of regulatory barriers, and the accumulation of technology and human capital. Our results support the basic insights of the Lisbon Agenda. Economic growth in Europe is enhanced to the extent that: trade in services increases, technology accumulation and diffusion increase, regulation becomes both less intensive and more uniform across countries, and human capital accumulation increases in all countries.
Subject: Human capital, Information technology in revenue administration, International trade, Labor, Revenue administration, Technology, Technology transfer, Trade in services
Keywords: Economic integration, estimation result, EU integration, EU output growth, EU product market regulation, Europe, Human capital, Information technology in revenue administration, manufacturing and services, product market, rate of growth, service sector, technology accumulation, technology diffusion, Technology transfer, Trade in services, WP
Pages:
48
Volume:
2005
DOI:
Issue:
103
Series:
Working Paper No. 2005/103
Stock No:
WPIEA2005103
ISBN:
9781451861228
ISSN:
1018-5941
