EU Structural Indicators – Necessary Correction of Yardsticks for Success of Lisbon Strategy
ResearchIn 2000, the European Council in Lisbon formulated a strategic plan aimed at transforming the European Union into the most competitive and most dynamic knowledge-based economy in the world by 2010. Today, in 2005, it is time for a mid-term review.
The so-called EU Structural Indicators play a significant role in determining the outcome of this review. They constitute an extensive list of quantitative indicators providing for example information on the relative performance of EU member states. This allows the identification of particularly successful and of particularly struggling countries.
An article recently published in the ZEW-Economic Report in March 2005, questions the validity of the Structural Indicators which are currently used. Drawing on the results of a recent ZEW study, the article illustrates for example, that the relevant list of indicators fails to attribute sufficient importance to the public sector. It also criticises the calculation of a universal success-ranking for all EU states; the definition of the term, “success” differs greatly from country to country as different aims are prioritised. Furthermore, the relevant list of indicators results in a selective and delayed presentation of economic reforms. This should be altered in the course of further developing the list.