Global trade imbalances narrowed in the aftermath of the global financial crisis. They have remained at a lower level but are still of concern to policy makers because of the risks they pose to individual economies, as well as globally. However, the ultimate causes of these imbalances are not...

This paper aims to assess the impact of both geographic and industrial diversification of economic activities on the productivity performance of large European R&D Multinational Enterprises (MNEs). Based on the worldwide subsidiaries of these firms, we measure the performance of the firms...

Productivity in Russia has fallen steadily over the past 15 years. This paper explores micro-level data to understand the contribution of individual firms to aggregate productivity. Overall, firm-level data corroborate the decline in aggregate productivity and a widening productivity gap against...