Lisbon: An Assessment Jean Pisani-Ferry Ljubljana, 28 September 2007
Outline <ul><li>Where we stand </li></ul><ul><li>Lisbon  assessment : The right diagnosis? </li></ul><ul><li>Lisbon  agend...
Where we stand <ul><li>2000: Lisbon strategy for “ Employment, Economic reforms and Social Cohesion ” adopted  </li></ul><...
Assessment : The right diagnosis? <ul><li>The 2000 assessment in context: a new mindset </li></ul><ul><ul><li>End of a mac...
Agenda : The right goals?  <ul><li>Is the focus on growth justified? </li></ul><ul><ul><li>Preferences  </li></ul></ul><ul...
Policies : The right medicines?  <ul><li>Strong emphasis on: </li></ul><ul><ul><li>Labour market reforms </li></ul></ul><u...
Process : The right protocol?  <ul><li>Variance in ownership </li></ul><ul><li>Methodology </li></ul><ul><li>Incentives </...
Conclusions <ul><li>Value of Lisbon remains </li></ul><ul><li>Larger, more diverse EU is a significant challenge </li></ul...
Thank You For Your Attention <ul><li>Jean Pisani-Ferry </li></ul><ul><li>+32 2 227 4217, jean.pisani-ferry@bruegel.org  </...
What accounts for the income gap
Capital allocation, post-entry growth
The education issue (1)
The education issue (2)
The diversity issue
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Lisbon Agenda so Far

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Mr Jean Pisani-Ferry, BRUEGEL, Brussels, Belgium , Towards Lisbon 2.1, September 28, 2007, Ljubljana

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Lisbon Agenda so Far

  1. 1. Lisbon: An Assessment Jean Pisani-Ferry Ljubljana, 28 September 2007
  2. 2. Outline <ul><li>Where we stand </li></ul><ul><li>Lisbon assessment : The right diagnosis? </li></ul><ul><li>Lisbon agenda : The right goals? </li></ul><ul><li>Lisbon policies : The right medicines? </li></ul><ul><li>Lisbon process : The right protocol? </li></ul><ul><li>Conclusion </li></ul>
  3. 3. Where we stand <ul><li>2000: Lisbon strategy for “ Employment, Economic reforms and Social Cohesion ” adopted </li></ul><ul><ul><li>Ambitious goals for 2010 </li></ul></ul><ul><ul><li>End-of-boom, “new economy” context </li></ul></ul><ul><ul><li>Much hype, weak commitment </li></ul></ul><ul><ul><li>Gradual loss of credibility </li></ul></ul><ul><li>2005: Lisbon re-launched with focus on “ Growth and Jobs ” </li></ul><ul><ul><li>Quasi-stagnation context </li></ul></ul><ul><ul><li>Enlargement </li></ul></ul><ul><ul><li>Disillusion and scathing assessment (Kok report) </li></ul></ul><ul><ul><li>Refocus on growth and jobs </li></ul></ul><ul><ul><li>Streamlined procedures </li></ul></ul><ul><li>2008: End of three-years cycle </li></ul><ul><li>2010: Delivery assessment </li></ul>
  4. 4. Assessment : The right diagnosis? <ul><li>The 2000 assessment in context: a new mindset </li></ul><ul><ul><li>End of a macroeconomic adjustment cycle </li></ul></ul><ul><ul><li>Realisation that Europe was losing ground vis-à-vis the US </li></ul></ul><ul><ul><li>Employment, growth, knowledge economy </li></ul></ul><ul><ul><li>Not substantially changed in 2005 </li></ul></ul><ul><li>Strong points </li></ul><ul><ul><li>Identification of key deficiencies in labour input, productivity </li></ul></ul><ul><li>Weak spots </li></ul><ul><ul><li>Enlargement </li></ul></ul><ul><ul><li>China.. </li></ul></ul><ul><li>On/off </li></ul><ul><ul><li>Economic / social dimensions </li></ul></ul><ul><ul><li>Environment </li></ul></ul>
  5. 5. Agenda : The right goals? <ul><li>Is the focus on growth justified? </li></ul><ul><ul><li>Preferences </li></ul></ul><ul><ul><li>Environmental sustainability </li></ul></ul><ul><li>A matter for the EU or for national governments? </li></ul><ul><ul><li>Interdependence </li></ul></ul><ul><ul><li>Policy learning </li></ul></ul><ul><ul><li>The euro dimension </li></ul></ul>
  6. 6. Policies : The right medicines? <ul><li>Strong emphasis on: </li></ul><ul><ul><li>Labour market reforms </li></ul></ul><ul><ul><li>Product market reforms at EU and national levels </li></ul></ul><ul><li>Less emphasis on: </li></ul><ul><ul><li>Financial markets ( why ?) </li></ul></ul><ul><ul><li>Education ( why ?) </li></ul></ul><ul><li>Issues of policy complementarity (mic/mic, mic/mac) </li></ul><ul><li>Diversity issue post-enlargement </li></ul>
  7. 7. Process : The right protocol? <ul><li>Variance in ownership </li></ul><ul><li>Methodology </li></ul><ul><li>Incentives </li></ul><ul><ul><li>Benchmarking </li></ul></ul><ul><ul><li>Budget </li></ul></ul>
  8. 8. Conclusions <ul><li>Value of Lisbon remains </li></ul><ul><li>Larger, more diverse EU is a significant challenge </li></ul><ul><ul><li>Strengthen the rationale </li></ul></ul><ul><li>Room for adjustments in </li></ul><ul><ul><li>Goals (environment, social) </li></ul></ul><ul><ul><li>Policy instruments (education, financial markets) </li></ul></ul><ul><li>Effectiveness would require </li></ul><ul><ul><li>More systematic benchmarking </li></ul></ul><ul><ul><li>Incentives through budget </li></ul></ul>
  9. 9. Thank You For Your Attention <ul><li>Jean Pisani-Ferry </li></ul><ul><li>+32 2 227 4217, jean.pisani-ferry@bruegel.org </li></ul><ul><li>Rue de la Charité 33, B-1210 Brussels </li></ul><ul><li>www.bruegel.org </li></ul>
  10. 10. What accounts for the income gap
  11. 11. Capital allocation, post-entry growth
  12. 12. The education issue (1)
  13. 13. The education issue (2)
  14. 14. The diversity issue

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