INTERECONOMICS, Vol 45, No.5 September/October 2010

Drivers and Impediments for Innovation in Europe

INTERECONOMICS, Vol 45, No. 5, September/October 2010

Forum: Drivers and Impediments for Innovation in Europe

by Knut Blind, Luke Georghiou, Mathias Dewatripont, Bruno van Pottelsberghe de la Potterie, André Sapir, Reinhilde Veugelers, Felix Roth, Faridah Djellal, Faïz Gallouj, Annaflavia Bianchi, Paolo Pini

The EU 2020 strategy relies on innovation as the core driver of economic dynamics. The present Forum discusses the strategies established by the European Commission and the member states for the intensifi cation of innovative activities. Analyses of often neglected aspects of innovation policy, such as measurement of intangible investments, service innovation and a regional innovation system complement the picture.

Article: Lisbon, Europe 2020, and the Case for Soft Coordination in EU Policymaking

by Eckehard Rosenbaum

Positive spillovers from structural and other reforms fi gure among the key reasons for the Lisbon and the Europe 2020 Strategies. This paper investigates the theoretical and empirical evidence for such spillovers and shows that the need for coordination in some policy areas is less evident than commonly assumed, whereas in others a lack of coordination is at the root of persistent economic imbalances.

Article: Reforming Regulation and Supervision in Europe: Five Missing Lessons from the Financial Crisis

by Donato Masciandaro

There is general agreement that financial regulation and supervision must be improved. But are the proposed reforms adequate to the task? What criteria should they fulfil in order to be effective?