Productivity Growth in Europe

Dall'Olio, Andrea; Iootty, Mariana; Kanehira, Naoto; Saliola, Federica

doi:10.1596/1813-9450-6425

Cited by 9 publications

(5 citation statements)

References 30 publications

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“…Differences in country specific settings have an important impact on the depth and length of the cycle and, thus, also on firms' resistance to crisis. To include country specific factors in our analysis we follow the approach of Dall'Olio et al (2013). In modelling the factors of productivity growth in Europe they combine Amadeus firm-level data on productivity and firm characteristics with various country-level data (business environment, FDI, infrastructure quality, credit availability).…”

Section: Determinants Of Firm Growth and Recession Resistance: Literamentioning

confidence: 99%

Determinants of firm performance and growth during economic recession: The case of Central and Eastern European countries

et al. 2017

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The crisis has hit the corporate sectors of the new EU member states from Central and Eastern European countries (CEECs) more than those of most old EU member states. Taking full account of firms' heterogeneity, the paper analyses what kind of CEECs firms' characteristics make some of them more resilient to crisis than the others. Using panel VAR system on a large firm-level dataset we estimate the responses of firms' employment and investment to cyclical demand shocks and financial shocks. Controlling for industry, time and country differences, we split firms according to size, age, export status, foreign versus domestic ownership and pre-vs. during crisis growth in order to compare firms' responses between distinct splits. We find that cyclical drop in demand decreases firms' employment in subsequent periods but there is substantial heterogeneity among different types of firms. Old and especially small old firms react more swiftly, whereas downward adjustment in employment is less severe in exporters and in foreign-owned firms. On the other hand, investment does not respond to demand shocks per se, but to free cash flow component of the business cycle. It is large young firms that are the most and small young firms that are the least responsive to financial shocks in terms of investment activity. In contrast to employment adjustments, exporters adjust their investment activity to cash flow availability to a larger extent than non-exporters. Differences in country specific settings also show important impact on firms' resistance to crisis. The quality of legal institutional environment in a country is positively correlated with the employment sensitivity to shocks but it has no discernible effect on investment sensitivity. On the other hand, political and economic institutions make employment more stable over the cycle.

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Section: Determinants Of Firm Growth and Recession Resistance: Literamentioning

confidence: 99%

Determinants of firm performance and growth during economic recession: The case of Central and Eastern European countries

et al. 2017

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“…ECB Working Paper 1701, July 2014 Further, Dall'Olio et al (2013) discuss there is overall a bias towards larger firms and that size distributions of sampled firms are heterogeneous over countries. The bias is especially substantial for Germany and the UK.…”

Section: Amadeus Datasetmentioning

confidence: 98%

European Competitiveness - A Semiparametric Stochastic Metafrontier Analysis at the Firm Level

Dumont

Merlevede²,

Rayp

et al. 2014

SSRN Journal

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This paper presents research conducted within the Competitiveness Research Network (CompNet). The network is composed of economists from the European System of Central Banks (ESCB) -i.e. the 28 national central banks of the European Union (EU) and the European Central Bank -a number of international organisations (World Bank, OECD, EU Commission) universities and think-tanks, as well as a number of non-European Central Banks (Argentina and Peru) and organisations (US International Trade Commission).The objective of CompNet is to develop a more consistent analytical framework for assessing competitiveness, one which allows for a better correspondence between determinants and outcomes.The research is carried out in three workstreams: 1) Aggregate Measures of Competitiveness; 2) Firm Level; 3) Global Value Chains CompNet is chaired by Filippo di Mauro (ECB). Workstream 1 is headed by Chiara Osbat, Giovanni Lombardo (both ECB) and Konstantins Benkovskis (Bank of Latvia); workstream 2 by Antoine Berthou (Banque de France) and Paloma Lopez-Garcia (ECB); workstream 3 by João Amador (Banco de Portugal) and Frauke Skudelny (ECB). Julia Fritz (ECB) is responsible for the CompNet Secretariat.The refereeing process of CompNet papers is coordinated by a team composed of Filippo di Mauro (ECB), Konstantins Benkovskis (Bank of Latvia), João Amador (Banco de Portugal), Vincent Vicard (Banque de France) and Martina Lawless (Central Bank of Ireland).The paper is released in order to make the research of CompNet generally available, in preliminary form, to encourage comments and suggestions prior to fi nal publication. The views expressed in the paper are the ones of the author(s) and do not necessarily refl ect those of the ECB, the ESCB, and of other organisations associated with the Network.

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“…En segundo lugar, sin embargo, dado un estándar de regulación, los costos que para las firmas implica cumplirla son heterogéneos entre países, y esto tiene un impacto en el dinamismo económico. Por ejemplo, los indicadores de rendimiento de la regulación del índice Doing Business (DB) del Banco Mundial que reflejan esta carga de cumplimiento -por ej., tiempo y complejidad al tramitar permisos de obras o tiempo estimado de legalizar un negocio-están fuertemente asociados al crecimiento (Djankov, McLiesh y Ramalho, 2006;Messaoud y El Ghak Teheni, 2014;Haidar, 2012); a la entrada de IED (Corcoran y Gillanders, 2015); a la productividad (Dall'Olio, lootty y Kanehira et al, 2013), y a la innovación (Dutz, Kessides, O'Connell et al, 2011). En tercer lugar, la falta de certeza en torno a una regulación determinada y las condiciones que resultan de su cumplimiento también disuaden la inversión.…”

Section: Gráfico 1 Influjos Netos De Ied En Alcunclassified

Una aproximación al valor económico de agilizar proyectos de inversión mediante una reforma regulatoria: el caso de la GPS en Chile

Benavente,

Leslie,

Miller

2024

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El crecimiento económico depende en fuerte medida de la inversión. El exceso de tiempo para tramitar proyectos de inversión tiene un impacto directo en la velocidad de ejecución de los mismos y consecuentemente con el crecimiento del PIB. Este trabajo analiza el potencial de incremento de actividad que podría darse con un conjunto de reformas en Chile. Entre los resultados destacados se encuentra un aumento del crecimiento tendencial del PIB de hasta 1.1 puntos porcentuales.

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Productivity Growth in Europe

Cited by 9 publications

References 30 publications

Determinants of firm performance and growth during economic recession: The case of Central and Eastern European countries

Determinants of firm performance and growth during economic recession: The case of Central and Eastern European countries

European Competitiveness - A Semiparametric Stochastic Metafrontier Analysis at the Firm Level

Una aproximación al valor económico de agilizar proyectos de inversión mediante una reforma regulatoria: el caso de la GPS en Chile

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