| dc.description.abstract | In 2013, there have been encouraging signs that an economic recovery is underway in Europe. Policy actions undertaken at EU level contributed to start restoring confidence and creating the basis for returning to a growth path. However, efforts should not be relaxed. If the EU wants to leave the legacy of the crisis behind and re-launch the European economy, it needs to go further. What Europe needs are structural adjustments, an efficient allocation of resources, and productivity growth. Smart, sustainable and inclusive growth remains at the core of Europe’s policy agenda for the decade. Boosting competitiveness across the EU is paramount for reaching that objective. Competitiveness is a composite and multi-dimensional concept. The Global Competitiveness Report of the World Economic Forum defines competitiveness as "the set of institutions, policies, and factors that determine the level of productivity of a country".1 According to the European Competitiveness Report of the European Commission, at the roots of competitiveness are the institutional and microeconomic policy arrangements that create conditions under which businesses can emerge and thrive, and individual creativity and effort are rewarded.2 Competition policy instruments fully fit both descriptions. |
