This paper surveys a broad range of studies and highlights the main findings of the empirical literature regarding business finance and productivity. Numerous studies analyse the productivity effects of financial development and frictions. The results suggest: 1) Financial development likely has...

Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a...

Although Australia’s labour market escaped the dramatic negative impact of the global financial economic crisis seen in other OECD countries, a substantial share of working-age Australians either did were not working or worked only to a limited extent as the global recovery gathered pace...

In the aftermath of the financial and economic crisis, large shares of working-age individuals in Lithuania either do not work or only to a limited extent. By 2013, several years after the start of the labour-market recovery, 21% were still without employment during the entire year, and a...

In the aftermath of the financial and economic crisis, large shares of working-age individuals in Estonia either did not work or only to a limited extent. By 2013, several years after the start of the labour-market recovery, 18% were still without employment during the entire year, and a further...

In the aftermath of the financial and economic crisis, large shares of working-age individuals in Spain either did not work or only to a limited extent. As the employment rate bottomed out in 2013, 30% were without employment during the entire year, and a further 15% had weak labour-market...

In the aftermath of the financial and economic crisis, large shares of working-age individuals in Italy either did not work or only to a limited extent. As the employment rate bottomed out in 2013, 32% were without employment during the entire year, and a further 7% had weak labour-market...

In the aftermath of the financial and economic crisis, large shares of working-age individuals in Ireland either did not work or only to a limited extent. As the labour-market recovery gathered pace during 2013, 32% were without employment during the entire year, and a further 14% had weak...

.In the aftermath of the financial and economic crisis, large shares of working-age individuals in Portugal either did not work or only to a limited extent. As the employment rate bottomed out in 2013, 29% were without employment during the entire year, and a further 10% had weak labour-market...

This paper analyses for 34 OECD countries the extent to which the calculation of aggregate multi-factor productivity (MFP) is sensitive to alternative parameterisations. The starting point is the definition of MFP used in previous work in the OECD’s Economics Department (e.g. Johansson et al....