strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe … bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … Europe may at least partly stem from bank forbearance. The increasing survival of zombie firms congests markets and …

strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe. … bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … Europe may at least partly stem from bank forbearance. The increasing survival of zombie firms congests markets and …

strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe … bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … Europe may at least partly stem from bank forbearance. The increasing survival of zombie firms congests markets and …

strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe. … bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … Europe may at least partly stem from bank forbearance. The increasing survival of zombie firms congests markets and …

across certain countries in Europe. We find that, overall, the correlation is far greater in Southern Europe than in Northern … Europe. Using a simple model, we show that this heterogeneity may relate to financial frictions in a country. We confirm the … model's propositions in a number of empirical analyses for the following countries in Northern and Southern Europe: the …

Encouraged by the forbearance of creditors and exit barriers (e.g., inefficient insolvency regimes), the zombie … productivity levels. Finally, we find that the probability of transition into recovery and exit is relatively small. However …' recovery. The insolvency environment is also found to be a strong factor in stimulating business restructuring. …

between bank credit and firm-level productivity in the context of different financial markets set-ups, we introduce a model of … group of European countries to explore the relation between bank credit and productivity following the main predictions of … the model. We estimate an extended set of elasticities of bank credit with respect to a series of productivity measures of …

between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping … and Italy to explore the relation between bank credit and productivity following the main derivations of the model. We … estimate an extended set of elasticities of bank credit with respect to a series of productivity measures of firms. We focus …

Policies that spur more efficient corporate restructuring can revive productivity growth by targeting three inter …-related sources of labour productivity weakness: the survival of “zombie” firms (low productivity firms that would typically exit in a … much scope to improve the design of insolvency regimes in order to reduce the barriers to restructuring of weak firms and …

Total factor productivity (TFP) is considered the key determinant of long-term and sustainable economic growth. The … mostly driven by the rise and fall of the capital-to-labor ratio (capital deepening) while the role of labor productivity is …