Strukturwandel und europäische Wirtschaftsverfassung : gibt es einen Zielkonflikt zwischen Effizienz und Sicherheit?
This paper addresses the lackluster performance concerning per capita growth and employment performance of Continental Europe countries compaed to Anglo-Saxon countries over the last decades which is in stark contrast to the post-war period. It analyzes institutional differences between country groups and points out that the institutional setting in Anglo-Saxon countries is better geared toward producing innovation-based growth which is essential when approaching the technological frontier. Continental European countries have, in contrast, a comparative institutional advantage in producing investment-based growth and a relatively egalitarian income distribution along with relatively stable individual incomes over time. It is therefore argued that the trade-off between efficiency and equality has recently worsened for Continental European countries.
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