La « contre-performance » de l'Europe continentale. Le lien entre institutions, dynamisme et prospérité économique

Edmund Phelps and Eloi Laurent

Revue de l'OFCE, 2005, vol. 92, issue 1, 9-41

Abstract: While most continental European economies have exhibit deceiving outcomes for two decades, it seems necessary ? and it reveals fruitful ? to elaborate an « institutional hypothesis » to understand this failure. Our central reasoning is the following : it is in the absence or the muffling of economic institutions able to generate « dynamism » that one must search for the explanation of the economic underperformance in continental Europe. After having carefully defined the idea of « economic performance » and the concept of « dynamism », we study in details the respective institutional advantages of the capitalist and corporatist systems, drawing on a number of theoretical approaches aimed at best identifying their strengths and weaknesses regarding the crucial issue of innovation process. Finally, we propose a first series of empirical tests for our theoretical intuition, that, while only preliminary, prove positive. JEL Codes : N23, N24, N13, N14, 031, 033, P17, P51.

JEL-codes: N13 N14 N23 N24 P17 P51 (search for similar items in EconPapers)
Date: 2005
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Working Paper: La 'contre-performance' de l'Europe continentale. Le lien entre institutions, dynamisme et prospérité économique (2005)
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