This could involve encouraging competition through measures to promote the entry of new firms, such as reducing the administrative burdens they face, making markets more competitive and facilitating access to venture capital. Governments can also liberalise previously highly regulated sectors, such as utilities, to increase efficiency and reduce prices to the benefit of industrial and household users of these services.
National governments may also wish to take steps to raise productive investment in research and development to increase growth in expanding high-tech industries. The introduction of the euro and a common monetary policy has certainly not rendered national governments impotent.