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R&D in Europe: Expenditures across Sectors, Regions and Firm Sizes. CEPS Paperbacks. February 2009

Uppenberg, Kristian (2009) R&D in Europe: Expenditures across Sectors, Regions and Firm Sizes. CEPS Paperbacks. February 2009. Series > Centre for European Policy Studies (Brussels) > CEPS Paperbacks . Centre for European Policy Studies. ISBN 9789290798484

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    Abstract

    Europe’s growth outlook has weakened notably in the wake of the global financial crisis, and policy-makers are understandably preoccupied with achieving a near-term rebound. But sustained growth can only be achieved by also addressing the structural causes of low growth. One such element is Europe’s relatively low spending on research and development (R&D), which hampers innovation and productivity growth. This study sheds light on this shortfall by decomposing R&D spending along different dimensions. It shows that Europe’s underinvestment in R&D is unevenly distributed across countries, regions and sectors. Strong economic forces underpinning this differentiation imply that misdirected R&D policies could be highly wasteful. Another key finding is that, by its sheer size, the services sector accounts for a substantial portion of Europe’s lag vis-à-vis the United States in terms of both R&D spending and productivity growth. This points to a continuing need to foster competition and deregulation in this protected segment of the economy, if higher economic growth is to be achieved.

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    Item Type: Book
    Uncontrolled Keywords: Economic Policy.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > RTD policy/European Research Area
    EU policies and themes > External relations > EU-US
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Paperbacks
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 20 Oct 2011 21:04
    Number of Pages: 54
    Last Modified: 20 Oct 2011 21:04
    URI: http://aei.pitt.edu/id/eprint/32615

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