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Current issues in economic growth.

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Achieving sustained, high, non-inflationary economic growth figures high on the European policy agenda.The Lisbon European Council of spring 1999 ventured he ambition for the European Union ‘to become the most competitive and dynamic knowledge-based economy in the world capable of sustainable economic growth with more and better jobs and greater cohesion’. Accordingly, the Broad Economic Policy Guidelines (BEPGs) have asserted that strengthening the EU ’s growth potential constitutes the main medium-term policy challenge. In sum, economic growth has acquired he status of a strategic goal for economic policy-making in the EU.

Although in recent years our knowledge,both theoretically and empirically,about the forces driving economic growth has markedly improved,many key issues remain unresolved.Against this background,the Directorate General for Economic and Financial Affairs organised in September 2000 a seminar on economic growth in the EU.This volume contains the papers that have emerged from this seminar.

With a view to focusing the debate, three topics were selected:

  • the impact of investment in new technologies on productivity,
  • the quality of public finance,
  • and the contribution of financial markets to economic growth.

Instead of elaborating on sophisticated economic models, the authors were asked to focus on empirical analysis, the application to the EU and the suitability for policy advice. The academic contributions in this volume are theoretically and empirically rigorous and are careful to tackle both the methodological and economic foundations of the contribution of the three selected driving forces of economic growth

(European Economy. Reports and Studies. 01. January 2001. Luxembourg. 157pp. Tab. Graph. Bibliogr. )

KC-35-01-005-EN-C
ISBN: ISBN 92-894-0647-X
ISSN: 1026-6232

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