Technology Diffusion, Services, and Endogenous Growth in Europe: Is the Lisbon Strategy Useful?

49 Pages Posted: 3 Mar 2006

See all articles by Paolo Guerrieri

Paolo Guerrieri

University of Rome "La Sapienza" - Department of Economics

Bernardo Maggi

affiliation not provided to SSRN

Valentina Meliciani

Luiss Guido Carli University - Department of Business and Management

Pier Carlo Padoan

International Monetary Fund (IMF)

Date Written: May 2005

Abstract

We explore the role of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous-time model is estimated on several European countries, Japan, and the United States. Policy simulations illustrate the benefits for EU growth of the deepening of the single market, the reduction of regulatory barriers, and the accumulation of technology and human capital. Our results support the basic insights of the Lisbon Agenda. Economic growth in Europe is enhanced to the extent that: trade in services increases, technology accumulation and diffusion increase, regulation becomes both less intensive and more uniform across countries, and human capital accumulation increases in all countries.

Keywords: Economic integration, manufacturing and services, technology diffusion

JEL Classification: F150, O140, O330

Suggested Citation

Guerrieri Paleotti, Paolo and Maggi, Bernardo and Meliciani, Valentina and Padoan, Pier Carlo, Technology Diffusion, Services, and Endogenous Growth in Europe: Is the Lisbon Strategy Useful? (May 2005). IMF Working Paper No. 05/103, Available at SSRN: https://ssrn.com/abstract=887972

Paolo Guerrieri Paleotti (Contact Author)

University of Rome "La Sapienza" - Department of Economics ( email )

Via del Castro Laurenziano 9
Rome, 00161
Italy

Bernardo Maggi

affiliation not provided to SSRN

No Address Available

Valentina Meliciani

Luiss Guido Carli University - Department of Business and Management ( email )

Viale Pola 12
Rome, 00198
Italy

Pier Carlo Padoan

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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