Benchmarking the Lisbon Strategy

59 Pages Posted: 26 Jun 2008

See all articles by Demosthenes Ioannou

Demosthenes Ioannou

European Central Bank (ECB)

M. Ferdinandusse

European Central Bank (ECB)

Wouter Coussens

European Central Bank

Marco Lo Duca

European Central Bank (ECB)

Date Written: June 26, 2008

Abstract

This paper reviews the governance framework of the Lisbon Strategy and discusses the specific option of increasing the role of benchmarking as a means of improving the implementation record of structural reforms in the European Union. Against this background, the paper puts forward a possible avenue for developing a strong form of quantitative benchmarking, namely ranking. The ranking methodology relies on the construction of a synthetic indicator using the "benefit of the doubt" approach, which acknowledges differences in emphasis among Member States with regard to structural reform priorities. The methodology is applied by using the structural indicators that have been commonly agreed by the governments of the Member States, but could also be used for ranking exercises on the basis of other indicators.

Keywords: Lisbon Strategy, economic governance, benchmarking, benefit of the doubt weighting

JEL Classification: D02, P11, P16, C43, C61

Suggested Citation

Ioannou, Demosthenes and Ferdinandusse, M. and Coussens, Wouter and Lo Duca, Marco, Benchmarking the Lisbon Strategy (June 26, 2008). ECB Occasional Paper No. 85, Available at SSRN: https://ssrn.com/abstract=1084911

Demosthenes Ioannou (Contact Author)

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

M. Ferdinandusse

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Wouter Coussens

European Central Bank ( email )

Kaiserstrasse 29
D-60311 Frankfurt am Main
Germany

Marco Lo Duca

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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