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European Productivity Growth Since 2000 and Future Prospects

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  • Bart van Ark
  • Vivian Chen
  • Kirsten Jäger

Abstract

This article revisits the issue of Europe's growth slowdown, taking into account the latest experiences from the recession and the debt crisis since 2008. There are few, if any, signs of even the beginnings of a reversal in the slowing growth trend, which is primarily driven by the weak productivity performance in most European countries. Recently, slow productivity growth has broadened from the services sector to the goods sector for most European economies. Output growth projections out to 2025 show a deceleration in Europe’s growth trend compared to the pre-recession period, and even compared to the latest period, 2006-2012, there are no signs of significant acceleration in the growth trend. Demographic structures and continued slow total factor productivity growth are both dampening trend output growth, although there will be large variation between different EU economies.

Suggested Citation

  • Bart van Ark & Vivian Chen & Kirsten Jäger, 2013. "European Productivity Growth Since 2000 and Future Prospects," International Productivity Monitor, Centre for the Study of Living Standards, vol. 25, pages 65-83, Spring.
    • Handle: RePEc:sls:ipmsls:v:25:y:2013:7
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    File URL: http://www.csls.ca/ipm/25/IPM-25-vanArk-Chen-Jager.pdf
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    References listed on IDEAS

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    1. Boele Bonthuis, 2011. "Constructing a Data Set on Labour Composition Change," Economics Program Working Papers 11-04, The Conference Board, Economics Program.
    2. Vivian Chen & Ben Cheng & Gad Levanon & Ataman Ozyildirim & Bart van Ark, 2012. "Projecting Global Growth," Economics Program Working Papers 12-02, The Conference Board, Economics Program.
    3. Timmer,Marcel P. & Inklaar,Robert & O'Mahony,Mary & Ark,Bart van, 2013. "Economic Growth in Europe," Cambridge Books, Cambridge University Press, number 9781107412446, October.
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    Cited by:

    1. Nicole Van Der Gaag & Joop Beer, 2015. "From Demographic Dividend to Demographic Burden: The Impact of Population Ageing on Economic Growth in Europe," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 106(1), pages 94-109, February.
    2. Alessandro Sarra & Claudio Berardino & Davide Quaglione, 2019. "Deindustrialization and the technological intensity of manufacturing subsystems in the European Union," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(1), pages 205-243, April.
    3. Hideyuki Mizobuchi, 2014. "Returns to scale effect in labour productivity growth," Journal of Productivity Analysis, Springer, vol. 42(3), pages 293-304, December.
    4. Guillaume Cléaud & Francisco de Castro Fernández & Jorge Durán Laguna & Lucia Granelli & Martin Hallet & Anne Jaubertie & Carlos Maravall Rodriguez & Diana Ognyanova & Balazs Palvolgyi & Tsvetan Tsali, 2019. "Cruising at Different Speeds: Similarities and Divergences between the German and the French Economies," European Economy - Discussion Papers 103, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

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