Finanse, Rynki Finansowe, Ubezpieczenia

Purpose – The aim of the paper is to present the macroeconomic impact of the process of structural changes with the increase of the service’s share in economy and the reduction of the industry’s share. The assessment of deindustrialisation output has been carried out on the basis of the European Union and the United States economies. Design/methodology/approach – The following criteria have been used in the assessment: GDP growth rate, labour productivity growth rate, the contribution of the most important factors to the labour productivity growth – capital investment, IC technologies and multifactor productivity. The data from Eurostat databases and The Conference Board Total Economy Database are use, as well as the calculation of the authors preparing reports for the European Commission, mainly B. van Ark and his team from the research center in Groningen. Findings – Deindustrialization in the European Union has caused the decline in labour productivity growth, weaker multifactor productivity growth (MFP) and the sharp economic slowdown, as well as the deepening of structural differences between Member States. The increase of the service sector share in the European Union economy to the level of the United States has not ensured the maintenance of labour productivity growth, as in the case of the United States, because the European Union is dominated by labour-intensive services, and the US is dominated by technologically advanced and knowledge-intensive services. The sector, which creates the technical progress and labour productivity growth in the US is IC technologies. Originality/value – Own (in most cases) compilation of statistical data and author’s interpretations of the statistics used in the analyses, especially own evaluations and conclusions.