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European competitiveness: the role of institutions and the case for structural reforms

Author

Listed:
  • Filip, Marinela-Daniela
  • Momferatou, Daphne
  • Parraga Rodriguez, Susana

Abstract

This article discusses the role institutions play in supporting European competitiveness and makes the case for urgent and concrete structural reforms. Productivity growth in Europe has been disappointingly low in the last three decades, which is closely linked to the shortcomings in firm dynamism, investment, breakthrough innovation and the diffusion of digital technology. Efficient and effective institutions at the national and EU levels are needed to support innovation and investment and boost productivity, which in turn will raise competitiveness. This is particularly important in the context of increased geopolitical tensions and the need to facilitate the digital and green transitions. JEL Classification: O43, O32, O18, J24, F02

Suggested Citation

  • Filip, Marinela-Daniela & Momferatou, Daphne & Parraga Rodriguez, Susana, 2025. "European competitiveness: the role of institutions and the case for structural reforms," Economic Bulletin Articles, European Central Bank, vol. 1.
    • Handle: RePEc:ecb:ecbart:2025:0001:1
    Note: 471525
    as

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    File URL: https://www.ecb.europa.eu//press/economic-bulletin/articles/2025/html/ecb.ebart202501_01~fd1781599d.en.html
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    More about this item

    Keywords

    Competitiveness; Innovation; Institutions; Productivity; Reforms;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • F02 - International Economics - - General - - - International Economic Order and Integration

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