Developing activities in areas other than finance would help to sustain growth and deal with the declining potential output and trend productivity growth that Luxembourg’s economy is facing. Given the relatively high labour costs, Luxembourg’s future comparative advantages are likely to lie...

This short paper analyses the decline of France’s trade balance over the past 15 years. While the loss in export market shares is comparable to that of the major OECD countries except Germany, it is one of the largest among the countries of the euro area. The determinants of this outcome seem...

Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened. Boosting economic growth requires a new generation...

The Korean government has made fostering a “creative economy” a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role. However, the venture capital market is still at an early stage of...

A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level. The returns from Korea’s large...

Korea is a top player in emerging digital technologies, with an outstanding digital infrastructure and a dynamic ICT sector. The COVID-19 outbreak highlighted the importance of digitalisation to contain the spread of the virus, by allowing quick testing and tracing of infected people, and...

This report presents new evidence on the impact of R&D tax incentives and direct funding of business R&D, drawing on distributed cross-country and firm-level analyses undertaken as part of the first phase of the OECD microBeRD project (2016-19). This “distributed” approach facilitates a...

Despite Greece’s long history as a trading nation, the country is failing to live up to its export potential. Small and medium-sized enterprises (SMEs) could significantly contribute to strengthening Greece’s export performance, thereby helping to jump-start economic growth and job creation...

This report presents new evidence on industry concentration trends in Europe and in North America. It uses two novel data sources: representative firm-level concentration measures from the OECD MultiProd project, and business-group-level concentration measures using matched...

This paper investigates the causal effect of public administration efficiency on firm-level productivity. To this purpose, we combine newly available data from Italy on public administration efficiency of subnational governments with geo-localised firm-level data for the years 2004-2014. Italy...