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The productivity riddle: Supporting long-term economic growth in the EU

03-12-2018

Productivity has a key role to play in the EU's long-term economic growth. The recent economic recovery has reversed the negative trend but concerns remain about long-term prospects. Productivity varies across the EU, with newer Member States reaching only about half the level of the older ones (EU-15) when measured in terms of gross domestic product (GDP) per hour worked, but showing a higher growth dynamic. The recent poor productivity growth in the EU raises a number of important policy questions ...

Productivity has a key role to play in the EU's long-term economic growth. The recent economic recovery has reversed the negative trend but concerns remain about long-term prospects. Productivity varies across the EU, with newer Member States reaching only about half the level of the older ones (EU-15) when measured in terms of gross domestic product (GDP) per hour worked, but showing a higher growth dynamic. The recent poor productivity growth in the EU raises a number of important policy questions. First, there is no consensus on the reasons behind it or the best ways to remedy it. There are also conflicting views regarding how long this situation will continue. Most economists believe the current weak growth trend may be explained by a combination of cyclical and structural economic weaknesses that need to be addressed by a mix of shorter and longer-term measures. Remedies for low productivity include increasing labour market participation, strengthening product market competition, encouraging demand, investment and lending to companies, as well as restructuring inefficient markets, disseminating technology and generalising digitalisation. In the EU context, particularly important factors conducive to productivity growth include creating a genuine single market for services, boosting digitalisation across economic sectors and addressing long-term challenges, such as the ageing society and rising income inequalities, as well as implementing long-awaited structural reforms in the Member States.

Research for REGI Committee - Public Private Partnerships and Cohesion Policy

15-11-2017

The objective of this study is to describe the role of Public-Private Partnerships (PPPs) in Cohesion Policy. The study finds that the use of PPPs in Cohesion Policy has been limited and concentrated in a number of Member States and sectors, in spite of favourable regulatory changes. Evidence shows that PPPs are useful instruments to implement projects on time and on budget, but the assessment of outcomes over the long-term period is still limited and not conclusive.

The objective of this study is to describe the role of Public-Private Partnerships (PPPs) in Cohesion Policy. The study finds that the use of PPPs in Cohesion Policy has been limited and concentrated in a number of Member States and sectors, in spite of favourable regulatory changes. Evidence shows that PPPs are useful instruments to implement projects on time and on budget, but the assessment of outcomes over the long-term period is still limited and not conclusive.

Externí autor

CSIL: Gianni CARBONARO, Gelsomina CATALANO, Laura DELPONTE, Silvia VIGNETTI supported by (case studies) Filippo ADDARII and Fiorenza LIPPARINI (PlusValue), Dariusz ZWIERZYNSKI