For example, the extensive liberalisation of the telecommunication sector in the course of the 1990s led hourly labour productivity in that sector to grow on average by 8.5% in the euro area over the period 1996-2003 compared with 6.9% in the US.
One might reasonably respond that coordinating such an approach would be challenging, that deadlines are fixed by legislation, and that it is difficult to coordinate simultaneously at the global, EU, and national levels – especially given the different mandates and scope of the various parties involved in regulation.