Europe's Growth Challenge

"European Union needs a strong economy to respond effectively to the global challenges and to live up to the expectations of its citizens. It needs to raise the economic growth rate and sustain its global competitiveness. This book offers valuable insights into how that can be done through structural reforms and further market integration." -- <em>Valdis Dombrovskis, Vice President, European Commission</em>"The European Union faces an almost perfect storm of political challenges. The strategy it has used in the past -- barely muddling through a series of calamities -- is no longer enough. In this book, Anders Aslund and Simeon Djankov respond to these challenges, suggesting how Europe can cure its dismal economic growth through ambitious structural reforms." -- <em>Carl Bildt, Former Prime Minister of Sweden"</em>"Standard policy responses to Europe's growth malady have focused on loose monetary policies and massive government spending. These can at best stabilize, but surely will not cure the patient. Aslund and Djankov propose credible cures based on a wealth of academic research: how to create a more nimble, flexible, and dynamic economy in Europe." -- <em>Andrei Shleifer, Professor of Economics, Harvard University</em>"This book has a strong message to European policy makers: Focus on competitiveness if you want to have the economic strength and political clout to address all the challenges you are facing." -- <em>Kristalina Georgieva, Vice President, European Commission</em>"

Anders Aslund is a Senior Fellow at the Atlantic Council in Washington, DC. Simeon Djankov is a Visiting Fellow at the Peterson Institute of International Economics and Rector at the New Economic School in Moscow.

1. What Is Right and Wrong with Europe? 2. Limit the Fiscal Role of the State 3. Taxes That Support Entrepreneurship and Growth 4. Reforming Pensions 5. Open up Services and Digital Trade 6. Creating Jobs 7. Cutting Red Tape 8. Developing a Single Energy Market 9. Catching-up in Innovation 10. Conclusions: How Europe can be turned around