Project description
New methodology for better European productivity
The current problem of the European economy is a paradox: EU Member States have innovating economies but they fail to achieve increases in productivity, wages and domestic growth. The EU-funded BigProd project aims to broaden present econometrics methodologies with theoretically sound 'Big Data' operationalised measures, validated through pilots and communicated to relevant stakeholders – a method achieved by uncovering the origins of the slowdown of productivity in many Western economies. The BigProd model will be operationalised through a random stratified sample of up to 200 000 European companies. This proposed approach is highly novel and will help create new policies to solve issues of low productivity.
Objective
"The objective of the BIGPROD project is to extend existing econometric approaches to productivity, such as the Crepon-Duguet-Mairesse (CDM) model, with theoretically sound “Big data” measures that are operationalized, validated through pilots and communicated to relevant stakeholders. This is achieved by uncovering the origins of the productivity slowdown in most Western economies. Based on this understanding, we will extend the CDM model to better account for changes in the innovation process and utilize measures enabled by ""Big data"". The model created will be operationalized using for a random stratified sample of 160,000-200,000 European companies.
The operationalization and theoretical framework will be validated using a multi-criteria impact assessment approach. The validation will include three pilots based on issues arising from the research literature on challenges of existing measures of productivity. These are 1) high-technology and digitalization, 2) low-technology and innovation outcomes and 3) services and incumbent entrant dynamics. To allow for full integration with the policy cycle, the project will incorporate a deep stakeholder consultation mitigating the skills gap, creating transparency, enabling stakeholder influence in sources and tools and enabling policymakers being informed on utilizing tools and pilots.
The BIGPROD project addresses the work program by enabling the exploitation of ""Big data"" in productivity analysis with a transparent operationalization and pilots addressing key issues in integrating ""Big data"" to the policy cycle. The rigorous theoretical approach will enable a better understanding of the ""quasi-standstill"" of productivity. Using a tested data architecture, now being expanded, the project will address data accuracy and security. The impact assessment will allow us to create stakeholder validated results. Finally, outreach to existing indicator sets, such as observatories, will allow findings to be deployed."
Fields of science
Programme(s)
Topic(s)
Call for proposal
H2020-SC6-TRANSFORMATIONS-2018-2019-2020
See other projects for this callSub call
H2020-SC6-TRANSFORMATIONS-2019
Funding Scheme
RIA - Research and Innovation actionCoordinator
02150 Espoo
Finland