The economic growth performance of countries and sectors has changed enormously over the past few decades, as have the sources of this growth. This lecture analyses growth and productivity in Europe. It covers the period of the emergence from the mid-1990s of a significant gap between accelerating productivity growth in the US and much slower growth in Europe and developments since the onset of the financial crisis.
The lecture will consider the industry location of productivity trends, the role of Information and Communications technology (ICT), human capital and intangible assets linked to ICT. The lecture will discuss recent research on Europe’s position in global production and the role of emerging markets. It will also report new research on determinants of labour's share of output and its links to technology and intangible assets.