Economic Growth in Europe

Marcel Timmer is Professor of Economic Growth and Development, and Director of the Groningen Growth and Development Centre (GGDC) at the University of Groningen. Robert Inklaar is Assistant Professor in the Department of International Economics and Business at the University of Groningen. Mary O'Mahony is Professor of International Industrial Economics at Birmingham Business School at the University of Birmingham. Bart van Ark is Chief Economist of the Conference Board, New York, and Professor of Economic Development, Technological Change and Growth at the University of Groningen.

• List of figures; List of tables; Preface and acknowledgments; 1. Introduction and overview; 2. Economic growth in Europe; 3. EU KLEMS database; 4. Structural change; 5. The industry origins of aggregate growth; 6. Productivity levels and convergence; 7. Drivers of productivity growth in Europe; References; Author index; Subject index.

'This book elevates the analysis of economic growth in advanced countries to new levels of sophistication and relevance. The authors have overturned the long-standing paradigm for economic growth, based on innovation, and have replaced this with the knowledge economy. This new paradigm focuses on investments in information technology equipment and software and intangibles, especially human capital. On this view, the failure of the long-standing European project to create a single market for services emerges as the main barrier to recovery of sustainable economic growth in Europe. Whatever the outcome of the current crisis, this book will be essential reading for policy-makers in the European Union countries and everyone interested in European economic affairs and the future of the world economy.' Dale Jorgenson, Samuel W. Morris University Professor, Harvard University