Karnit Flug: Macroeconomic policy and the performance of the Israeli economy Remarks by Dr Karnit Flug, Governor of the Bank of Israel, to the conference of the Israel Economic Association, Tel Aviv, 18 May 2016.
For example, according to OECD estimates, the share of the information and communications technology (ICT) sector in value added is less than 5% for most euro area countries, which compares with around 7% for the United States and 8% for Japan.5 Similarly, when it comes to research and development (R&D) spending, the EU is now trailing both China and the United States, especially in the business sector.