Is a European Recovery Possible Without High-Tech Public Corporations?

Archibugi, D., & Mariella, V. (2021). Is a European recovery possible without high-tech public corporations?. Intereconomics, 56(3), 160-166.

7 Pages Posted: 30 Nov 2021

See all articles by Daniele Archibugi

Daniele Archibugi

Italian National Research Council (CNR); University of London - School of Business, Economics and Informatics

Vitantonio Mariella

IRPPS - Italian National Research Council

Date Written: November 29, 2021

Abstract

Pervasive new technologies associated with information and communication technologies and software are dominated by a restricted oligopoly of US-based corporations. The challengers are no longer European firms, but rather Japanese or Chinese companies. The actions taken by the EU to fill this technology gap, including the Framework Programmes for research and technological development, are beneficial but still insufficient in terms of the resources committed. This article argues that the EU urgently needs to add another economic policy instrument to defy these incumbent firms, namely to create a few publicly supported large corporations in the areas of greater scientific and technological opportunities. This will be complementary to the already ongoing mission-oriented innovation policies. While there are the political and economic difficulties of implementing such a strategy, one recalls the pioneering venture of Airbus, established more than 50 years ago that has successfully managed to challenge the dominant US-based passenger aircraft producers despite several economic and political controversies. Could similar attempts be replicated for green technologies, healthcare services and artificial intelligence?

Keywords: Innovation, Technological Change, Structural change, Public enterprises

Suggested Citation

Archibugi, Daniele and Mariella, Vitantonio, Is a European Recovery Possible Without High-Tech Public Corporations? (November 29, 2021). Archibugi, D., & Mariella, V. (2021). Is a European recovery possible without high-tech public corporations?. Intereconomics, 56(3), 160-166., Available at SSRN: https://ssrn.com/abstract=3974016

Daniele Archibugi (Contact Author)

Italian National Research Council (CNR) ( email )

Via Palestro, 32
00185 Rome
Italy

University of London - School of Business, Economics and Informatics ( email )

Malet Street
Bloomsbury
London, WC1E 7HX
United Kingdom
+44 (0) 207 631 6741 (Phone)
+44 (0) 207 631 6769 (Fax)

HOME PAGE: http://www.bbk.ac.uk/management/our-staff/academics/archibugi

Vitantonio Mariella

IRPPS - Italian National Research Council ( email )

Via Palestro, 32
Rome, 00185
Italy

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