Policy Brief on Institutional Reform for Enhanced Innovation and Entrepreneurship in Europe

We argue that institutional changes in a liberalizing direction are a sine qua non for economies of the European Union to become more entrepreneurial in order to promote innovation and economic growth.

However, this does not mean that one-size-fits-all policy reforms towards freer markets are likely to be successful. An important reason is that the 28 union member states have very different histories, and distinct institutional structures, affecting their efficiency and the viability of reforming them.