Aufsatz in Zeitschrift

Europe’s Middle-Technology Trap

Anita Dietrich, Florian Dorn, Clemens Fuest, Daniel Gros, Giorgio Presidente, Philipp-Leo Mengel, Jean Tirole
CESifo, Munich, 2024

EconPol Forum 25 (4), 32-39
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  • The Lisbon strategy of the year 2000 failed: the share of R&D spending in Europe remains below the 3 percent of GDP target, far behind that of the US and China
  • EU companies spend much less on R&D than their US peers and concentrate their innovation activities on midtech instead high-tech industries. Mid-tech sectors, however, tend to have lower growth rates and generate incremental innovations rather than large, disruptive ones
  • Consequently, Europe currently lags in high-tech sectors (IT hardware, software, biotechnology, pharmaceuticals) and is losing ground to the US in terms of productivity, competitiveness, and economic growth
  • EU funding for innovation is too small and needs reforms to focus more on disruptive leap innovations that foster business dynamics

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