productivity (TFP), as well as possible government responses to these shocks, in particular, changes in industrial policy. In …

SMEs are key to strengthening productivity, delivering more inclusive growth and adapting to the major transformations … of our time. SMEs that grow have a considerable positive impact on employment creation, innovation, productivity growth …

), iii) structural change, and iv) the effects of productivity catch-up. Our estimates show that these four groups of factors …

which they shape aggregate productivity growth. A range of potentially relevant policies are identified, spanning insolvency … environment regulations. These policies can directly shape aggregate productivity along the exit margin through a variety of … relevant for explaining cross-country differences in productivity. Finally, the paper proposes a strategy to obtain policy …