IMF Working Papers Volume 2005 Issue 103: Technology Diffusion, Services, and Endogenous Growth in Europe. is the Lisbon Strategy Useful? (2005)

Technology Diffusion, Services, and Endogenous Growth in Europe. is the Lisbon Strategy Useful?

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International Monetary Fund

International Monetary Fund
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Series:: IMF Working Papers

Volume/Issue:: Volume 2005: Issue 103

Publication Date:: 01 May 2005

DOI:: https://doi.org/10.5089/9781451861228.001

ISBN:: 9781451861228

ISSN:: 1018-5941

Pages:: 48

Keywords:: WP; rate of growth; service sector; product market; Economic integration; manufacturing and services; technology diffusion; technology accumulation; EU output growth; EU product market regulation; estimation result; EU integration; Human capital; Technology transfer; Trade in services; Information technology in revenue administration; Europe

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Series:: IMF Working Papers

Volume/Issue:: Volume 2005: Issue 103

Language:: English

Publication Date:: 01 May 2005

DOI:: https://doi.org/10.5089/9781451861228.001

ISBN:: 9781451861228

ISSN:: 1018-5941

Pages:: 48

Keywords:: WP; rate of growth; service sector; product market; Economic integration; manufacturing and services; technology diffusion; technology accumulation; EU output growth; EU product market regulation; estimation result; EU integration; Human capital; Technology transfer; Trade in services; Information technology in revenue administration; Europe

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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We explore the role of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous-time model is estimated on several European countries, Japan, and the United States. Policy simulations illustrate the benefits for EU growth of the deepening of the single market, the reduction of regulatory barriers, and the accumulation of technology and human capital. Our results support the basic insights of the Lisbon Agenda. Economic growth in Europe is enhanced to the extent that: trade in services increases, technology accumulation and diffusion increase, regulation becomes both less intensive and more uniform across countries, and human capital accumulation increases in all countries.

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IMF Working Papers

ISSN:: 1018-5941

Publisher:: International Monetary Fund

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