technologies. We show that Germany neither increased its investment into research and education, nor did it embrace ICT technology … dynamics of investment into research, education and information technology during the nineties were the slowest of all EU … countries, and according to a quantitative indicator of "total investment into the future" Germany ranked second to last …

two other explanations for European underperformance during the nineties: insufficient investment in long run determinants … investment into future growth. Then we exploit performance differences between European countries to assess the relative … importance of labour market reforms versus investment into long-run growth. The best performing European countries did fine tune …