This paper shows that finance has been a key ingredient of long-term economic growth in OECD and G20 countries over the past half-century, but that there can be too much finance. The evidence indicates that at current levels of household and business credit further expansion slows rather than...

For much of the second half of the twentieth century, labour productivity grew rapidly in most OECD economies, fuelled by the adoption of a large stock of unexploited existing technologies. However, the slowdown in productivity growth over the past decade underscores the idea that as economies...

This paper quantifies the importance of different determinants of trade at the industry level using a sample of 54 OECD and non-OECD economies. The empirical methodology extends the approach of previous empirical studies to explicitly quantify the impact that trading partners’ factor...

This paper provides new evidence on the main characteristics of laggard firms - firms in the bottom 40% of the productivity distribution - and their potential for productivity growth. It finds that laggards are on average younger and smaller than more productive firms, and matter for aggregate...

This paper surveys the state and evolution of GDP per capita in 281 regions of OECD countries for the time period 1995 – 2013. It puts a special focus on the disparities between the regions. These can be substantial: In 2013, GDP per capita of the least and most developed region varied by a...

This paper provides comprehensive cross-country evidence on the relationship between earnings inequality and intra-generational mobility by simulating individual earnings and employment trajectories in the long-term using short panel data for 24 OECD countries. On average across countries, about...

This paper uses “centrality” metrics to reflect position with Global Value Chains (GVCs). Central sectors reflect those that are highly connected (both directly and indirectly) and influential within globalproduction networks, whereas peripheral sectors exhibit weak linkages and are less...

This paper assesses the possible dynamic effects of occupational entry regulations (OER) on productivity. It combines firm-level productivity data with a new cross-country policy indicator measuring the stringency of OER by the presence of administrative burdens, qualifications requirements, and...

This paper explores cross-country differences in the design and stringency of occupational entry regulations (OER) in five professional services, nine personal services and nurses, based on a new composite indicator. The indicator – which is available for a total of 18 OECD countries, India...