The productivity gap: why is innovation not increasing growth?
We live in an age of huge technological and commercial innovation. Yet Europe is struggling to emerge from low productivity and weak growth.
We live in an age of huge technological and commercial innovation. Yet Europe is struggling to emerge from low productivity and weak growth. An inefficient allocation of scarce resources across firms, including the mismatch between skill levels and job requirements, is often cited as a reason for Europe’s failure to achieve long-term growth, but policymakers offer few clear solutions. Nevertheless, there is an emerging consensus that the slowdown of diffusion and adoption of innovations from the frontier to the rest of the economy could be part of the problem.
- How can we measure the links between allocation of skills, innovation efforts and productivity growth?
- Why are some firms, sectors and countries falling behind in the race for innovative productivity growth?
- What mix of business, employment and education policies can foster sustained growth at the frontier, while encouraging the diffusion of productivity-enhancing innovations throughout the economy?
Bruegel is pleased to welcome Andrew Wyckoff, the OECD’s director for science, technology and innovation, for a discussion of the latest OECD research on this topic. Reinhilde Veugelers, Bruegel research fellow, will also present work on innovation and growth. Finally, comments from Román Arjona and the audience will offer space for in-depth reflection.
- Andrew Wyckoff, director for science, technology and innovation, OECD
- Román Arjona, chief economist, European Commission Directorate-General for Research and Innovation
- Eric Bartelsman, professor, VU University Amsterdam
- Isabel Grilo, head of unit, DG ECFIN
- Chair: Reinhilde Veugelers, senior research fellow, Bruegel
- Institutions to promote pro-productivity policies: Logic and lessons by Gary Banks, OECD
- Policies for productivity growth by Chang-Tai Hsieh, OECD
- Venue: Bruegel, Rue de la Charité 33, 1210 Brussels
- Date: Tuesday 30 June 2015
- Time: 12:00 – 14:00 (Lunch: 12:00 – 12:30)
- Contact: [email protected]
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