We analyze the impact of R&D, government spending on education and trade unions density on labour productivity, using data for 15 EU countries. A panel data econometric model approach is used to evaluate the importance of regressors. The existing economic evidence predominantly demonstrates positive effects of R&D and government spending on education on labour productivity, while trade unions density has negative impact. We therefore conclude that increasing spending on modernization is likely to be an effective strategy on these countries\' way to accelerate economic growth. Data are taken from the Conference Board Total Economy Database and OECD.

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