Even before the financial crisis of 2007/08, there were significant questions about Europe's long-term growth prospects …. After a long period of catching up with US levels of labour productivity, euro area productivity growth had, from the mid … declining rates of total factor productivity (TFP) growth and weaker capital accumulation as areas for concern in an European …

Even before the financial crisis of 2007/08, there were significant questions about Europe's long-term growth prospects …. After a long period of catching up with US levels of labour productivity, euro area productivity growth had, from the mid … declining rates of total factor productivity (TFP) growth and weaker capital accumulation as areas for concern in an European …

all countries, non-tradables were less relevant for aggregate productivity. The low productivity growth in peripheral EU … remain, implying a continuation of unsustainable growth patterns. This has implications for the European Commission … identify a link between sectoral growth asymmetries and the quality of domestic governance institutions. Especially differences …