This paper identifies the varieties and dynamics of service economies in Europe, analysing the role of knowledge base and innovative efforts and their evolution across time and countries. Results based on aggregated macroeconomic data indicate that there is no convergence trend towards a single...

Business services have become one of the most dynamic activities in modern economies. Their high growth rates in value added and employment support its outstanding position. The paper identifies short-term cyclical and long-term structural components in the business services growth. The...