Highlighting the revival of industrial-policy thinking in an era of globalisation and disenchantment with free trade, this paper reviews alternative and, in part, competing theoretical foundations of industrial policy: neoclassical foundations, structuralist approaches, and pragmatic approaches...

The main purpose of this paper is to preview the other contributions to this volume of the EIB Papers. In this context, it offers a few additional perspectives. One highlights why energy issues have re-emerged as a matter of policy interest. Another concerns the difference between the...

The paper critiques current European energy policy. The key market failures are identified and the reasons for intervention set out. In addition to the traditional concerns with monopoly and market failures, the public goods aspects of diversity and security of supply, together with...

Countries thus far realise their energy security predominantly with energy policies (e.g., diversifying the energy mix and suppliers) and their energy security risk instruments mostly address the risk of shortterm supply disruptions. Lack of commercially viable sustainable energies and a renewed...

Is international production sharing associated with stronger competitiveness? We address this question from the complementary viewpoints of firms and industries. We show that international production sharing is indeed associated with stronger competitiveness not only at the firm level but also...

Drawing on the OECD’s structural analysis (STAN)database, this paper contributes to the understanding of European economic growth through a decomposition into employment and productivity, across sectors, and across different time periods and countries. The US productivity surge from the...

In this paper, we review theory and evidence on the links between product market regulations that curb competitive pressures, the efficiency of resource allocation and productivity growth. We show that product market regulations differ across countries and industries and have evolved differently...

Countries differ substantially in the extent to which more productive firms are large and/or are becoming larger and less productive firms are small and/or becoming smaller. A challenge for both emerging and advanced economies is that achieving such static and dynamic allocative efficiency...

The revival in US productivity growth since the mid-1990s is linked to a surge in investment in information and communication technologies (ICT). Against the backdrop of a weakening link between productivity and traditional innovation inputs (e.g. R&D expenditure), digitization has spurred...

This paper provides an update of the paper "From R&D to Productivity Growth: Do the Institutional Settings and the Source of Funds of R&D Matter?" (Guellec and van Pottelsberghe 2004). We present estimates of the long-term impact of various sources of knowledge (R&D performed by the business...