| 000 | 02637namaa2200433uu 4500 | ||
|---|---|---|---|
| 001 | oapen50074 | ||
| 003 | oapen | ||
| 005 | 20231220155042.0 | ||
| 006 | m o d | ||
| 007 | cr|mn|---annan | ||
| 008 | 210715s2021 xx |||||o ||| 0|eng d | ||
| 020 | _a/doi.org/10.2867/795159 | ||
| 020 | _a9789286150357 | ||
| 024 | 7 |
_ahttps://doi.org/10.2867/795159 _2doi |
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| 040 |
_aoapen _coapen |
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| 041 | 0 | _aeng | |
| 042 | _adc | ||
| 072 | 7 |
_aKFF _2bicssc |
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| 100 | 1 |
_aWolski, Marcin _4auth _91583512 |
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| 245 | 1 | 0 |
_aEIB Working Paper 2021/04 - Aggregate productivity slowdown in Europe _bNew evidence from corporate balance sheets |
| 260 |
_bEuropean Investment Bank _c2021 |
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| 300 | _a1 online resource | ||
| 336 |
_atext _btxt _2rdacontent |
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| 337 |
_acomputer _bc _2rdamedia |
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| 338 |
_aonline resource _bcr _2rdacarrier |
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| 506 | 0 |
_aOpen Access _fUnrestricted online access _2star |
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| 520 | _aUsing 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. | ||
| 540 |
_aCreative Commons _fhttps://creativecommons.org/licenses/by-nc-nd/4.0/ _2cc _uhttps://creativecommons.org/licenses/by-nc-nd/4.0/ |
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| 546 | _aEnglish | ||
| 650 | 7 |
_aFinance _2bicssc |
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| 653 | _aBusiness & Economics | ||
| 653 | _aFinance | ||
| 700 | 1 |
_aEuropean Investment Bank _4edt |
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| 700 | 1 |
_aEuropean Investment Bank _4oth |
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| 700 | 1 |
_aMaurin, Laurent _4auth _91561072 |
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| 793 | 0 | _aOAPEN Library. | |
| 856 | 4 | 0 |
_uhttps://library.oapen.org/bitstream/id/5dd8c38b-b98c-48ac-acc6-5ff740502749/9789286150357.pdf _70 _zOpen Access: OAPEN Library, download the publication |
| 856 | 4 | 0 |
_uhttps://library.oapen.org/handle/20.500.12657/50074 _70 _zOpen Access: OAPEN Library: description of the publication |
| 999 |
_c3068433 _d3068433 |
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