Competition and innovation A challenge for the European Union

Jean-Luc Gaffard and Lionel Nesta

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Abstract: Real divergences in economic performances that emerge between countries belonging to the Eurozone make it necessary to define an economic policy oriented towards a re-industrialization of some regions in Europe. In a world characterized by irreversibility of investment and imperfection of market information, supply-side reforms should consist in establishing a framework aimed at supporting both competition and cooperation between the various players of innovation, and thus allowing firm strategies to be successful. This requires reconsidering both national and European policies that are growth-enhancing, that is, industrial policy, competition policy, labour policy, regional policy, and banking policy. However, any change in the industrial landscape in Europe will only be possible if a new macroeconomic policy prevents the inappropriate destruction of productive capacities. 1. A

Date: 2014-05
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Published in Revue de l'OFCE, 2014, 134, pp.231-238

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Working Paper: Competition and innovation A challenge for the European Union (2014)
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