Is the growth gap between the United States and the euro zone due to higher risk aversion in the euro zone?

Growth and potential growth are markedly higher in the United States than in the euro zone. A possible interpretation is that risk aversion is higher in the euro zone than in the United States: as economic agents do not want to take risk s in the euro zone, risky projects are not undertaken, which weakens growth. To determine whether this assumption of high risk aversion in the euro zone can be correct, we look at: Business creation; Companies’ investment in new technologies and automation; The capacity to finance new companies (private equity, IPO); The structure of savings. We see that all indicators, except business creation, show lower risk aversion in the United States than in the euro zone.