In sharp contrast with the post-war period, over the last 10 years income per head in the EU has begun to decline in comparison to that of the US. Against this background, the revival of growth and productivity has become an overriding priority of European policymakers. While fostering innovation has become a necessity in Europe, R&D investments alone will not do the job.
Octubre 2006
Autor: Philippe Aghion, non-resident Senior Fellow at Bruegel and Prof. of Economics at Harvard University.
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A primer on innovation and growth



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