A new report from the independent economic think tank Bruegel says that the decline of manufacturing in Europe has slowed down, despite the loss of jobs in the sector.
The report, entitled “Manufacturing Europe’s future,” argues that the contribution of manufacturing to European economies is changing, creating fewer jobs overall, and those that are created are more skill-, value- and service-type positions that generate productivity growth and external competitiveness for Europe.
In contrast to the sector-based, targeted approach that characterises the current position of the European Commission on industrial policy, the Bruegel paper argues for a “horizontal” cross-sectoral policy. This, it says, would set the right framework where economic processes can take place, without intervening in those processes. Examples of horizontal intervention include competition policy, aid in setting up businesses, and the promotion of education and training.
The publication was edited by Bruegel Senior Fellow Reinhilde Veugelers and includes contributions from other Bruegel fellows and experts of the Organisation for Economic Cooperation and Development (OECD).
This material is protected by copyright Ken Hurst 2013.