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 in...

Over the last two and a half decades, Luxembourg's financial sector emerged as a leading international hub for asset management and investment funds and became a key contributor to economic growth. Diversification into new areas of financial asset management is continuing. However, changing...

This paper reviews the fiscal relations between the three levels of government in Austria and points to the scope for reforming them with a view to improving the efficiency of the public sector. Key areas of public sector activity are subject to complex relations across the three layers of...

Much scope remains to make regulation of product markets more conducive to competition ? notwithstanding progress in recent years ? with substantial benefits for consumer welfare, productivity and employment. While the general competition legislation and enforcement framework is mostly...