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Why does Europe grow more slowly than the United States?

Author

Listed:
  • Campano, Fred
  • Costantiello, Alberto
  • Laureti, Lucio
  • Salvatore, Dominick

Abstract

Recovery from the recent financial crisis and “great recession” has been slower than after previous recessions in most developed countries and areas, especially Europe. But Europe's growth problem is structural in character and started much earlier. This paper analyzes the structural causes of the European slow growth, evaluates the policies that Europe adopted to overcome it, and concludes that even with the appropriate policies, the prospects for accelerating growth in Europe will be difficult, especially in the context of the current US-China trade war.

Suggested Citation

  • Campano, Fred & Costantiello, Alberto & Laureti, Lucio & Salvatore, Dominick, 2020. "Why does Europe grow more slowly than the United States?," Journal of Policy Modeling, Elsevier, vol. 42(4), pages 903-912.
    • Handle: RePEc:eee:jpolmo:v:42:y:2020:i:4:p:903-912
    DOI: 10.1016/j.jpolmod.2020.03.013
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    References listed on IDEAS

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    1. Hendrik Van den Berg, 2013. "Growth theory after Keynes, part I: the unfortunate suppression of the Harrod-Domar model," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 7(1), November.
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