Marius-Jan Radlo member states, the US and Japan is positively correlated with both the level of product market regulation and the employment protection level. The highest unemployment in 2000 could be observed in EU countries with the highest levels of regulation: Spain, Greece, Italy and France. Countries with the lowest regulation and protection levels- Ireland, Great Britain, Denmark and the US ­had low unemployment rates. Table 1. Changes in the structure of public spending in the EU, period 1963­2000(%GDP) 3 1963 1975 1985 1989 1993 2000 Change 1963-2000 (% of GDP) Government consumption 15.09 18.36 20.23 19.46 21.08 19.90+4.81 Government investment 3.80 3.83 3.12 3.10 3.06 2.54-1.26 Subsidies 1.44 1.97 2.24 1.96 1.84 1.42-0.02 Income transfers 11.58 17.45 19.29 18.68 21.39 20.67+9.09 Total government disbursements 33.01 43.51 49.45 47.80 53.09 47.16+14.15 Source: Author's calculation using: OECD, 2003a Table 2. Structure of public spending in 2000 in the EU, the US Government consumption Government investment EU15 19.9 2.54 US 14.57 3.26 Difference: EU-US 5.33-0.72 Source: Author's calculation using: OECD, 2003a Subsidies 1.42 0.35 1.07 Income transfers Total Government disbursements 20.67 47.16 13.8 33.62 6.87 13.54 These relationships have already been demonstrated in analyses carried out by Nickell(1999) and Blanchard(2000). Their findings are generally consistent with the earlier observations made by Siebert(1997), who analysed institutional and regulatory change in labour markets in EU member states over the last four decades. 3. Social benefits paid by government and other current transfers paid by government. 80