EU Innovation Policy: How to Escape the Middle Technology Trap? (Discussion)

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Daniel Gros (IEP, Bocconi University) // (Director Institute for European Policymaking)
Jean Tirole (Toulouse School of Economics) // (TSE & IAST Honorary Chairman, Toulouse School of Economics)
Markus Schulte (Head of Cabinet of Commissioner Iliana IVANOVA - Innovation, Research, Culture, Education and Youth)
Reinhilde Veugelers (KULeuven)
Clemens Fuest (ifo Institute, CESifo/EconPol Europe)
10 April 2024
www.ifo.de/en/press-release/2...
A report by a group of economists from France, Germany and Italy criticizes the EU’s innovation policy and the direction of spending on research and development in Europe and calls for changes. “The EU is losing the innovation race, thereby giving up on economic well-being and surrendering regulatory and geopolitical influence. Its complete absence in the group of top-20 tech companies and top-20 start-ups is ominous. It spends too little on R&D and focuses on mid-tech,” says Nobel laureate Jean Tirole from the Toulouse School of Economics. ifo President Clemens Fuest adds: “Investment in the EU research is concentrated in the automotive industry and similar sectors, while Europe is being left ever further behind in growing high-tech sectors such as the digital economy. The continent is caught in a mid-tech trap.”
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ifo Institut - Leibniz-Institut für Wirtschaftsforschung an der Universität München e.V.