ECB research dissects European competitiveness
Research published yesterday by the European Central Bank has sought to distinguish between competitiveness driven by the factors of production and competitiveness driven by government policy, drawing lessons for European countries that are struggling to reform.
The working paper, Measuring Institutional Competitiveness in Europe, by Stefan Huemer, Beatrice Scheubel and Florian Walch, develops a ‘composite index' of what the authors term "institutional competitiveness", which focuses solely on
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