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Eib Working Paper 2021 04 Aggregate Productivity Slowdown In Europe
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Book Synopsis EIB Working Paper 2021/04 - Aggregate Productivity Slowdown in Europe by : Marcin Wolski
Download or read book EIB Working Paper 2021/04 - Aggregate Productivity Slowdown in Europe written by Marcin Wolski and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using firm balance sheet data, this paper shows the impact of credit constraints on allocative efficiency and productivity growth. Allocative efficiency is the extent to which resources, including labour, are distributed to firms with the highest growth prospects, or “stuck” in less productive firms. This paper uses firm balance sheet data to analyse the role of financial constraints in the relatively muted post-crisis rebound in productivity in 2014-17, compared to previous upturns in Europe. It shows that the level of financial leverage played an important role in explaining the change in aggregate productivity growth in Europe between 2004 and 2017. Focusing on Northern and Western Europe, it also shows that the productivity potential could not be fully exploited due to constraints on access to credit. It estimates that reducing collateral bottlenecks could more than double the effectiveness of financial leverage in spurring productivity growth in this region between 2014-17.
Book Synopsis Aggregate Productivity Slowdown in Europe by : Laurent Maurin
Download or read book Aggregate Productivity Slowdown in Europe written by Laurent Maurin and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Capitalising on the productivity decomposition proposed by Olley and Pakes (1996), we analyse the role of financial factors behind the relatively muted post-crisis rebound in productivity compared to previous upturns in Europe. Firstly, we provide an OLS-consistent framework to decompose sector-level productivity into trend and allocative efficiency components. We then extend our approach to estimate the contribution of firm-level confounders to the sector-level allocative component. Secondly, we find that financial leverage played an important role in explaining the change in aggregate productivity growth in Europe between 2004 and 2017. Thirdly, focusing on Northern and Western Europe, we show that the productivity potential could not be fully exploited due to access to credit conditions. Specifically, reducing collateral bottlenecks could more than double the effectiveness of financial leverage in spurring productivity growth in this region between 2014-17.
Book Synopsis EIB Investment Report 2020/2021 by : European Investment Bank
Download or read book EIB Investment Report 2020/2021 written by European Investment Bank and published by European Investment Bank. This book was released on 2021-02-04 with total page 591 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Europe Union's massive efforts to rebuild after the coronavirus pandemic present a unique opportunity to transform its economy, making it more green and digital – and ultimately more competitive. The Investment Report 2020-2021 looks at the toll the pandemic took on European firms' investment and future plans, as well as their efforts to meet the demands of climate change and the digital revolution. The report's analysis is based on a unique set of databases and data from a survey of 12 500 firms conducted in the summer of 2020, in the midst of the COVID-19 crisis. While providing a snapshot of the heavy toll the pandemic took on some forms of investment, the report also offers hope by pointing out the economic areas in which Europe remains strong, such as technologies that combine green and digital innovation.
Book Synopsis Economic Growth in Europe by : Marcel P. Timmer
Download or read book Economic Growth in Europe written by Marcel P. Timmer and published by Cambridge University Press. This book was released on 2013-01-03 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why has European growth slowed down since the 1990s while American productivity growth has speeded up? This book provides a thorough and detailed analysis of the sources of growth from a comparative industry perspective. It argues that Europe's slow growth is the combined result of a severe productivity slowdown in traditional manufacturing and other goods production, and a concomitant failure to invest in and reap the benefits from Information and Communications Technology (ICT), in particular in market services. The analysis is based on rich new databases including the EU KLEMS growth accounting database and provides detailed background of the data construction. As such, the book provides new methodological perspectives and serves as a primer on the use of data in economic growth analysis. More generally, it illustrates to the research and policy community the benefits of analysis based on detailed data on the sources of economic growth.
Book Synopsis Productivity Drag from Small and Medium-Sized Enterprises in Japan by : Mariana Colacelli
Download or read book Productivity Drag from Small and Medium-Sized Enterprises in Japan written by Mariana Colacelli and published by International Monetary Fund. This book was released on 2019-07-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity growth in Japan, as in most advanced economies, has moderated. This paper finds supportive evidence for the important role of small and medium-sized enterprises (SMEs) in explaining Japan’s modest productivity growth. Results show a substantial dispersion in firm-level productivity growth across sectors and even across firms within the same sector. SMEs, on average, exhibit lower productivity growth than non-SMEs in Japan, with smaller and older SMEs showing particularly low productivity growth. Estimates suggest that boosting productivity growth in all of the worst-performing SMEs could improve overall productivity growth by up to 1.8 percentage points. The SME credit guarantee system, SME financing constraints, demographic factors, and lack of intangible capital investment are discussed as contributors to the slow productivity growth of Japan’s small and old SMEs.
Book Synopsis Social policy in the European Union: state of play 2015 by : David Natali (OSE)
Download or read book Social policy in the European Union: state of play 2015 written by David Natali (OSE) and published by ETUI. This book was released on 2015-09-23 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sixteenth edition of Social policy in the European Union: state of play has a triple ambition. First, it provides easily accessible information to a wide audience about recent developments in both EU and domestic social policymaking. Second, the volume provides a more analytical reading, embedding the key developments of the year 2014 in the most recent academic discourses. Third, the forward-looking perspective of the book aims to provide stakeholders and policymakers with specific tools that allow them to discern new opportunities to influence policymaking. In this 2015 edition of Social policy in the European Union: state of play, the authors tackle the topics of the state of EU politics after the parliamentary elections, the socialisation of the European Semester, methods of political protest, the Juncker investment plan, the EU’s contradictory education investment, the EU’s contested influence on national healthcare reforms, and the neoliberal Trojan Horse of the Transatlantic Trade and Investment Partnership (TTIP).
Book Synopsis World Bank East Asia and Pacific Economic Update, April 2024 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, April 2024 written by World Bank and published by World Bank Publications. This book was released on 2024-04 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most economies in developing East Asia and Pacific (EAP) are growing faster than the rest of the world but slower than before the pandemic. Slowing global growth, still tight financial conditions, and an increase in trade protection and industrial support in large and rich countries are key aspects of the external environment shaping the region's economic performance. Amplified public and private debt, constrained macroeconomic policy, and increased policy uncertainty are the major domestic issues. EAP's current macroeconomic challenges risk obscuring the microeconomic foundations of longer-term growth. Over the last decade, EAP's growth has been driven by investment and capital deepening rather than by increased productivity of firms. Now private investment is weak and productivity declining†“further inhibiting the incentive to invest. Firms are the protagonists of productivity growth. Some of the weaker firms in EAP countries are beginning to catch up with stronger firms. But the stronger firms in the region are failing to take full advantage of new technologies: regional leaders risk becoming global laggards. Bold policy action to unleash competition, improve infrastructure and reform education with measured state support could revitalize the region's economy.
Download or read book The Growth of Firms written by Alex Coad and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research into firm growth has been accumulating at a terrific pace, and Alex Coad s survey of this multifaceted field provides a detailed, comprehensive overview of the latest developments. Much progress has been made in empirical research into firm growth in recent decades due to factors such as the availability of detailed longitudinal datasets, more powerful computers and new econometric techniques. This book provides an up-to-date catalogue of empirical work, as well as a coherent theoretical structure within which these new results can be interpreted and understood. It brings together a large body of recent research on firm growth from a multidisciplinary perspective, providing an up-to-date synthesis of stylized facts and empirical regularities. Numerous empirical findings and theories of firm growth are also surveyed and compared in order to evaluate their validity. Drawing on a vast and diverse body of research, this book will prove invaluable to students, academics, policy makers and practitioners with a need to keep abreast of studies in industrial organization, firm growth and management.
Book Synopsis Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability by : European Investment Bank
Download or read book Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability written by European Investment Bank and published by European Investment Bank. This book was released on 2018-11-21 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: In its fourth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic chapters address challenges and opportunities for financing investment in Africa: Crowding out of private sector lending by public debt issuance The state of bank recovery and resolution laws in Africa Policy options on how to finance infrastructure development. The report finds that in many African banking markets, the last two years saw a pause in financial deepening. However, a rising share of banking groups report improving market conditions and plan a structural expansion of their operations in Africa and a continued push for new technologies.
Book Synopsis EIB Investment Report 2019/2020 by : European Investment Bank
Download or read book EIB Investment Report 2019/2020 written by European Investment Bank and published by European Investment Bank. This book was released on 2019-11-26 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Investment Report, issued annually by the European Investment Bank, provides a comprehensive overview and analysis of investment and the financing of investment in the European Union. It combines the exploration of investment trends with in-depth analysis, focusing especially on the drivers and barriers to investment activity. The report leverages on a unique set of databases and survey data, including EIBIS, an annual survey of 13 500 firms in Europe, which focuses on their assessment of investment and investment finance conditions, and which allows analysis with firm balance sheet information. The report provides critical inputs to policy debates on the need for public action on investment, and on the types of intervention that can have the greatest impact.
Book Synopsis Economic Crisis in Europe by : Paul van den Noord
Download or read book Economic Crisis in Europe written by Paul van den Noord and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.
Book Synopsis A Green Industrial Policy for Europe by : Simone Tagliapietra
Download or read book A Green Industrial Policy for Europe written by Simone Tagliapietra and published by . This book was released on 2020-12-17 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Green Deal aims to make Europe the first climate-neutral continent by 2050. This is not going to be an easy journey. To be successful, the European Green Deal will have to foster major shifts in the European industrial structure, including transitions from fossil fuels to renewable energy and from combustion engine cars to electric cars. Shifting economies from brown to green would be a major, historic socio-economic transformation. In this context of broad, paradigmatic, change for European industry, a 'green industrial policy' will be fundamental to Europe's climate change ambitions. But what is green industrial policy? What market failures must it address? Unlike traditional industrial policy, green industrial policy must be directed to twin goals of climate protection and social welfare. Green industrial policy initiatives in the European Union so far, however, have been piecemeal and fragmented. This Blueprint examines how past mistakes can be avoided and how the EU can develop a coherent green industrial policy that will serve the goals of the European Green Deal.
Book Synopsis OECD Economic Outlook, Volume 2019 Issue 1 by : OECD
Download or read book OECD Economic Outlook, Volume 2019 Issue 1 written by OECD and published by OECD Publishing. This book was released on 2019-05-21 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue includes a general assessment, a special chapter on the effects of digitalisation on productivity and a chapter summarising developments and providing projections for each individual country.
Book Synopsis The Future of Migration to Europe by : matteo villa
Download or read book The Future of Migration to Europe written by matteo villa and published by Ledizioni. This book was released on 2020-05-14 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even as the 2013-2017 “migration crisis” is increasingly in the past, EU countries still struggle to come up with alternative solutions to foster safe, orderly, and regular migration pathways, Europeans continue to look in the rear-view mirror.This Report is an attempt to reverse the perspective, by taking a glimpse into the future of migration to Europe. What are the structural trends underlying migration flows to Europe, and how are they going to change over the next two decades? How does migration interact with specific policy fields, such as development, border management, and integration? And what are the policies and best practicies to manage migration in a more coherent and evidence-based way?
Book Synopsis Building a Smart and Green Europe in the COVID-19 Era by : European Union. European Investment Bank
Download or read book Building a Smart and Green Europe in the COVID-19 Era written by European Union. European Investment Bank and published by . This book was released on 2021 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union's massive efforts to rebuild after the coronavirus pandemic present a unique opportunity to transform its economy, making it more green and digital – and ultimately more competitive. The Investment Report 2020-2021 looks at the toll the pandemic took on European firms’ investment and future plans, as well as their efforts to meet the demands of climate change and the digital revolution. The report’s analysis is based on a unique set of databases and data from a survey of 12 500 firms conducted in the summer of 2020, in the midst of the COVID-19 crisis. While providing a snapshot of the heavy toll the pandemic took on some forms of investment, the report also offers hope by pointing out the economic areas in which Europe remains strong, such as technologies that combine green and digital innovation.
Book Synopsis The Second Economic Adjustment Programme for Greece by :
Download or read book The Second Economic Adjustment Programme for Greece written by and published by . This book was released on 2012 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction - 2. Macroeconomic and financial developments - 3. Programme implementation - 4. Debt sustainability analysis and programme financing.
Book Synopsis Assessing Macro-financial Linkages by :
Download or read book Assessing Macro-financial Linkages written by and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
