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  • 1
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    Online Resource
    EIB Working Paper 2024/01 - Dynamics of productive investment and gaps between the United States and EU countries (2024)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Abstract: After the global financial crisis, investment fell more substantially than it had in the wake of previous recessions. With investment seemingly recovering faster in the United States than in Europe, the fear of a lasting gap emerged in Europe. This detailed analysis compares the investment dynamics and capital accumulation in the United States and the European Union, focusing on 2013-2019. It uses data from Eurostat and EU KLEMS releases to highlight the gaps and variations in investment strategies across different countries and asset types. The working paper provides key insights into the investment rates, growth of real gross fixed capital formation, and accumulation of stocks. It reveals an investment gap primarily due to lower rates in tangible information and communication technology and intangible assets after the global financial crisis, particularly in larger EU Member States. In addition, the report provides an in-depth analysis of diverse asset types and their role in the investment dynamics. It uncovers the European Union’s strength in construction assets and its persistent gaps in information and communications technology and intangible assets, indicating a need to increase investments in these areas. Furthermore, the analysis discloses the heterogeneity within the European Union, with countries like Ireland, Czech Republic, and Sweden leading in investment rates, while others, including the Netherlands, Germany, Italy, and Spain, falling behind. This working paper is a tool for understanding the nuances of global investment trends and for formulating effective strategies to address identified gaps. It offers guidance and insights for policymakers, investors, and businesses operating in the global economic environment
    Note: English
    URL: kostenfrei
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  • 2
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    EIB at a glance (2024)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Business and Management ; Business & Economics
    Abstract: As the largest and greenest multilateral lender in the world, the EIB helps economies flourish, creates jobs and promotes equality. Since 1958, the EIB has provided loans and expert advice for thousands of projects in over 160 countries
    Note: English
    URL: kostenfrei
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  • 3
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    EIB Investment Report 2023/2024 : Transforming for competitiveness (2024)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Business and Management ; Business & Economics
    Abstract: The European economy is under pressure. Growth is slowing and competitive challenges are rising, all while EU firms navigate the demands of the green transition. Coordinated support from national governments and EU institutions proved critical after the COVID-19 pandemic, helping Europe to bolster its resilience to future shocks and spurring the investment needed to transform and modernise the economy. As a result, progress was made in digitalisation, energy efficiency, decarbonisation and reinforcing supply chains.The pace of change needs to accelerate, however, even as investment becomes harder to sustain. To remain competitive, the European Union and its members need to improve productivity, encourage innovation, address skill gaps, develop new technologies and supporting young, dynamic firms. The report, which is based on the EIB Group’s annual Investment Survey, provides insights on how EU firms are dealing with these pressures, and whether they are taking the necessary steps to transform their businesses.The report’s Key Findings are available here.Contents Part I Sustaining investment in challenging times 1. The macroeconomic environment 2. Government investment 3. Corporate investment Part II Accelerating transformation for competitiveness 4. Innovation in the global context 5. Investing in green transformation Data annex Glossary of terms and acronyms
    Note: English
    URL: kostenfrei
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  • 4
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    EIB Investment Report 2023/2024 - Key Findings : Transforming for competitiveness (2024)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286157417
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Business & Economics ; thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management
    Abstract: The European economy is under pressure. Growth is slowing and competitive challenges are rising, all while EU firms navigate the demands of the green transition. Coordinated support from national governments and EU institutions proved critical after the COVID-19 pandemic, helping Europe to bolster its resilience to future shocks and spurring the investment needed to transform and modernise the economy. As a result, progress was made in digitalisation, energy efficiency, decarbonisation and reinforcing supply chains.The pace of change needs to accelerate, however, even as investment becomes harder to sustain. To remain competitive, the European Union and its members need to improve productivity, encourage innovation, address skill gaps, develop new technologies and supporting young, dynamic firms. The report, which is based on the EIB Group’s annual Investment Survey, provides insights on how EU firms are dealing with these pressures, and whether they are taking the necessary steps to transform their businesses.These key findings, provide a short accessible summary of the main report’s messages
    Note: English
    URL: kostenfrei
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  • 5
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    Blueprint for Sustainable Living : EIB Group Activity Report 2023 (2024)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286156380
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Business and Management ; Business & Economics
    Abstract: A blueprint presents drawings, dimensions and notes. This report draws vivid pictures of the beneficiaries of European Investment Bank projects in 2023. It includes data on the dimensions of our massive overall investment and the importance of our loans to each of our beneficiaries during the year. It notes the EU policies and expertise that lead us to make each of our investments
    Note: English
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  • 6
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    20230030 Financing and borrowing activities 2022 (2024)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Business & Economics ; thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management
    Abstract: The European Investment Bank is the world’s biggest multilateral investor. This report lays out the EU bank’s priorities and details its investments in the projects that support those policy goals. The European Investment Bank devotes more than half its financing to climate action and environmental sustainability. The Bank aims to support the transition to renewable energy sources such as geothermal, hydroelectric, and wind power. Despite challenging investment conditions in the European Union, the European Investment Bank supports firms in their transitions to a greener economy and in addressing climate change. The report provides a breakdown of the European Investment Bank’s finance contracts signed within the European Union and beyond it, as well as information on financing and borrowing activities
    Note: English
    URL: kostenfrei
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  • 7
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    Investment Report 2022/2023 - Key Findings (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Banking
    Abstract: Political strife caused by the war in Ukraine, an energy crisis and tightening credit are hitting EU firms just as they were beginning to emerge from the COVID-19 crisis. While the pandemic was a major shock, sizable policy support enabled firms to survive and transform. Relatively easy access to funding also helped them weather the crisis. Pandemic support has since been pulled back, however, and now firms are grappling with high inflation, instability and tighter credit conditions. These combined pressures are souring firms’ outlook. The report provides insight into the state of the European economy and its ability to withstand these crises while also becoming greener and more digital. The analysis is based on the EIB Group’s annual Investment Survey, which surveyed 13 000 firms in the European Union from April until July 2022 on their performance, investment, financing issues and challenges. These key findings, provide a short accessible summary of the main report’s messages
    Note: English
    URL: kostenfrei
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  • 8
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    EIB Investment Report 2022/2023 : Resilience and renewal in Europe (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Banking
    Abstract: Political strife caused by the war in Ukraine, an energy crisis and tightening credit are hitting EU firms just as they were beginning to emerge from the COVID-19 crisis. While the pandemic was a major shock, sizable policy support enabled firms to survive and transform. Relatively easy access to funding also helped them weather the crisis. Pandemic support has since been pulled back, however, and now firms are grappling with high inflation, instability and tighter credit conditions. These combined pressures are souring firms’ outlook. The report provides insight into the state of the European economy and its ability to withstand these crises while also becoming greener and more digital. The analysis is based on the EIB Group’s annual Investment Survey, which surveyed 13 000 firms in the European Union from April until July 2022 on their performance, investment, financing issues and challenges. The report’s Key Findings are available here. Contents Executive summary Introduction Part I Investment environment in a time of crises 1. The macroeconomic context 2. Investment in Europe 3. A corporate sector buffeted by shocks Part II Resilience and renewal 4. Trends in regional and social cohesion 5. Progress on digital transformation 6. Green transition and the energy crisis Data annex Glossary of terms and acronyms The chapters in charts Chapter 1 - The macroeconomic context Chapter 2 - Investment in Europe Chapter 3 - A corporate sector buffeted by shocks Chapter 4 - Regional and social cohesion Chapter 5 - Progress on digital transformation Chapter 6 - The energy crisis and green transition
    Note: English
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  • 9
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    EIB Working Paper 2023/01 - Advanced digital technologies and investment in employee training : Complements or substitutes? (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Banking
    Abstract: The use of advanced digital technologies such as 3D printing, advanced robotics, drones, big data analytics and artificial intelligence is spreading. These technologies have uncertain implications for labour demand. Affected workers may need to re-train to adapt to changing tasks or new jobs. At the same time, it is unclear whether or not advanced digital technologies encourage firms to invest in workforce re-training. Using firm-level data covering the 27 EU countries, the UK and the US, this paper shows that employers tend to reduce investment in training per employee, after adopting advanced digital technologies. It estimates, with a control function approach, firm-level production functions augmented with two factors: training per employee and digital technology use. We show that these are in fact substitutes in production, implying that an increase in the former negatively affects the marginal productivity of the latter, and that a decline in the cost of introducing advanced digital technologies reduces employers’ investment in training per employee. These findings point to challenges in realising high levels of firm-sponsored training for employees in increasingly digital economies
    Note: English
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  • 10
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    Hidden champions, missed opportunities : Mid-caps’ crucial role in Europe’s economic transition (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Abstract: The report zooms in on the mid-cap category of firms, an essential part of the economy, but not well researched, partly due to a lack of a clear definition of these type of enterprises in statistical databases. To fill a gap in data availability and insights on this type of companies, this report provides insights on their performance, investment activities, financing needs, and the challenges that these companies face linked to the green, digital and economic security transitions. The research work is conducted using the EIB Group Survey on Investment and Investment Finance (EIBIS), the bank’s unique information source providing details on investment and financing decisions of 12 000 European small businesses (SMEs), mid-caps and very large (XL) firms on an annual basis
    Note: English
    URL: kostenfrei
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  • 11
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    EIB Working Paper 2023/06 : Quantifying credit gaps using survey data on discouraged borrowers (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Abstract: Many creditworthy non-financial firms are discouraged from applying for loans, resulting in a significant gap between their potential to receive credit and the reality. To quantify the credit gap, this study combines a credit allocation rule with a scoring model that assesses the creditworthiness of discouraged firms. It covers 35 emerging markets and developing economies and uses data from the 2018-2020 EBRD-EIB-World Bank Enterprise Survey. The results show that discouraged firms are less creditworthy than successful applicants, on average. However, the share of discouraged firms that are creditworthy is large, suggesting that credit to firms is being rationed by the financial sector. The results point to an average credit gap of 8.4% of GDP, with significant variation across countries. Small and medium-sized firms account for more than two-thirds of the total gap, reflecting both their large contribution to economic activity and the fact that they are more likely to be credit-constrained than larger firms
    Note: English
    URL: kostenfrei
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  • 12
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    2023-0288 Central, Eastern and South-Eastern Europe (CESEE) Bank Lending Survey : Second half of 2023 (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Abstract: The CESEE Bank Lending Survey is a unique instrument developed in the context of the Vienna Initiative to monitor cross-border banking activities and deleveraging in Central, Eastern and South-Eastern Europe. It serves to better understand the determinants/constraints influencing credit growth in the region and to gain forward-looking insights into the strategies of cross-border banks and market expectations regarding local financial conditions.This report presents the results of the EIB CESEE Bank Lending survey at the regional and single country levels
    Note: English
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  • 13
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    2023-0285 EIB Investment Survey - European Union Overview (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286156113
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Antiques & collectables ; Antiques & Collectibles
    Abstract: This unique insight into the corporate investment in the European Union examines companies 39; finance needs and the constraints they face. The 2023 edition also provides insight into the pressing issues facing firms, such as climate change, high energy costs and the green transition. The survey, which has been administered since 2016, covers about 13 000 firms across the European Union, including a small sample of US firms
    Note: English
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  • 14
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    EIB Working Paper 2023/05 : Which European firms were hardest hit by COVID-19? (2023)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Antiques & collectables ; Antiques & Collectibles
    Abstract: The COVID-19 shock had a strong negative effect on aggregate economic performance, with the average firm taking a hit on sales revenues and financial performance. However, the effects varied from firm to firm. Were already-struggling firms hit hardest, threatening their very survival? Or did the COVID-19 shock disproportionately deter tomorrow’s superstars at the upper end of the distribution, thus sacrificing future growth potential? This paper investigates where the COVID-19 shock hit the firm growth distribution, using graphical techniques and quantile regressions to analyse the full distribution of firm growth rates. We investigate how the COVID-19 shock relates to growth outcomes for four dependent variables: growth of sales, value added, employment, and labour productivity. Our results confirm that COVID-19 policy support reached its intended recipients
    Note: English
    URL: kostenfrei
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  • 15
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    EIB Working Paper 2022/15 - Estimating financial integration in Europe : How to separate structural trends from cyclical fluctuations (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286154089
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Business & management
    Abstract: "Financial integration, broadly defined as the intensity of cross-border linkages between financial markets, has the potential to channel capital to where it is most productive, bringing many benefits. However, some financial integration is cyclical, increasing economic upswings and declining during down-turns. Of more long-term benefit is financial integration driven by structural factors such as the reductions in exchange rate risk and the increased regulatory or supervisory convergence associated with the establishment of a currency union, such as Europe's Economic and Monetary Union. This paper presents a new indicator of de facto financial integration in the European Union. Analysing this indicator alongside different financial and macroeconomic variables makes it possible to separate the impact of cyclical boom-bust shocks from the influence structural factors. It shows that increasing structural financial integration tends to improve risk absorption and reduce income disparities among European countries. However, it also suggests that most of the movements in the indicator reflect business cycle dynamics, rather than structural integration. These results highlight the need to develop further policies to foster structural financial integration in the EU."
    Note: English
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  • 16
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    European Investment Bank Activity Report 2021 : The innovation response (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286151088
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Banking
    Abstract: Our flagship report illustrates how the European Investment Bank Group confronted two great threats in 2021, the climate crisis and the coronavirus pandemic, even as the challenges posed by development grew more urgent. The EU bank tackled these hazards by thinking hard and moving fast - in new directions. The Activity Report highlights our emergency response to COVID-19 through the unique European Guarantee Fund, as well as our support for healthcare companies working on cures and therapies for the disease. It illustrates the dimensions of our backing for companies that are forging new frontiers of climate action - sometimes right into outer space. It demonstrates our commitment to a better future for all Europeans in our cohesion investment and for all global citizens through our development work. Built around 25 articles about the work of the European Investment Bank and the European Investment Fund in COVID-19 response, climate action, cohesion and development, the Activity Report highlights our contribution to a healthy, green and inclusive world. Figures are expected outcomes of financed new operations signed in 2021 for the first time based on available data at this stage. All figures are unaudited and provisional
    Note: English
    URL: kostenfrei
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  • 17
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    EIB Working Paper 2022/02 - How to foster climate innovation in the European Union : Insights from the EIB Online Survey on Climate Innovation (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286152115
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Climate change
    Abstract: Relying on the EIB Online Survey on Climate Innovations, we investigate the different climate innovations European firms are currently using, their motivations and challenges, and their views on current regulatory frameworks. The analysis confirms that there's a strong link between climate innovation and firm performance, but also that firms suffer from the low availability of finance. To create more successful firms in the climate sector, European policymakers should strengthen policies that reduce regulatory uncertainty and work actively to improve access to finance conditions, in particular for start-ups
    Note: English
    URL: kostenfrei
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  • 18
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    EIB Working Paper 2022/03 : Estimating conditional treatment effects of EIB lending to SMEs in Europe (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286152221
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Finance
    Abstract: Small and medium-sized firms play a key role in the European economy. This paper uses statistical methods to estimate the effects of EIB financial support on European companies between 2008 and 2015. It shows that the effects of EIB supported lending on job creation and investments were larger for smaller and younger firms, and that longer maturities and more advantageous loan pricing are associated with larger employment and investment effects. The results suggest that benefits of the EIB support are more noticeable on an intensive margin, instead of on an extensive one
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  • 19
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    EIB Working Paper 2022/01 : Firm-level policy support during the crisis (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286152108
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Corporate finance
    Abstract: During the COVID-19 crisis, the European corporate ecosystem avoided major disruptions, and corporate bankruptcy rates even declined. This outcome mostly resulted from the strength of support from monetary, financial supervisory and fiscal policies. Using the 2021 vintage of the EIB Investment Survey (EIBIS) matched with balance sheet data on firms' profits and losses, this paper investigates what has driven the allocation of fiscal policy support and the impact of this support during the investment recovery. It finds that support was largely directed towards firms that were most affected by the crisis in terms of lost sales, and was not tilted firms already weak before the crisis. It also shows that the firms that benefitted from this support tend to be more optimistic in their investment plans, especially with regard to digital technologies
    Note: English
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  • 20
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    Investment Report 2021/2022 - Key Findings : Recovery as a springboard for change (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286151965
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Investment & securities
    Abstract: The massive resources the European Union is unleashing to rebuild after COVID-19 present a unique opportunity to deal with climate change and improve the ability of firms and individuals to compete in a more digital world. The Investment Report 2021-2022 examines how government interventions helped support investment and enabled firms to weather the crisis. The report's analysis is based on a unique set of databases and data from a survey of 12 500 firms conducted in the summer of 2021. These key findings, provide a short accessible summary of the main report's messages
    Note: English
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  • 21
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    EIB Working Paper 2022/12 - Determinants of the exchange rate, its volatility and currency crash risk in Africa's low and lower middle-income countries (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286153716
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Finance
    Abstract: "The last three decades have witnessed substantial changes in the foreign exchange markets in Africa, with moves towards liberalisation and flexible exchange rate regimes. This has increased the influence of financial market conditions and heightened the risk of exchange rate volatility and large and sudden exchange rate movements. This paper investigates the determinants of nominal exchange rates, their volatility, and crash risk in African lower and lower-middle income countries. It combines macro-panel estimations for 15 such countries with insights from interviews with market participants. It shows the importance of these countries' distinctive export structure, concentrated in a few agricultural and mineral-based commodities, as well as recent financial integration, for exchange rate determination. It finds that terms of trade, export concentration, and export prices have a significant impact on the exchange rate level and volatility. By contrast, financial factors including the interest rate differential, international market conditions, and short-term financial flows, influence the likelihood of sudden and large exchange rate movements."
    Note: English
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  • 22
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    EIB Working Paper 2022/11 - A structural analysis of foreign exchange markets in sub-Saharan Africa (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286153723
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Finance
    Abstract: "Many countries in Sub-Saharan Africa have liberalised their foreign exchange markets and capital accounts, and have moved to more flexible exchange rates, in recent decades. In this context, the interaction between non-resident investors and export structures centred on primary commodities create a risk of destabilising exchange rate dynamics and further complications for macroeconomic management. This paper presents detailed insights into the micro-characteristics of several African Lower and Lower-Middle Income Countries' foreign exchange markets and the implications of these characteristics for macroeconomic management. It draws on interviews with foreign exchange experts in central banks, banks, non-bank financial institutions, and research institutions in Ghana, Kenya, Malawi, Sierra Leone, Uganda, and Zambia, as well as the City of London. The results show that whilst most of these countries have functioning foreign exchange interbank markets, these markets are often characterised by low, volatile and "lumpy" liquidity. These liquidity dynamics and uncertainty about future foreign exchange flows can lead to foreign exchange hoarding by market participants, further depriving the market of liquidity. Those with access to foreign exchange liquidity can gain significant market power and the potential to affect price dynamics, which has meant that central banks in these countries have remained key agents in foreign exchange markets, to manage scarce and volatile liquidity patterns. Overall, the results show the difficulties of moving towards floating exchange rates, for African countries characterised by concentrated export structures, low trust in their currencies, and shallow domestic financial markets."
    Note: English
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  • 23
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    EIB Investment Report 2021/2022 : Recovery as a springboard for change (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286151552
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Investment & securities ; Investment and securities ; Business & Economics ; Investments & Securities
    Abstract: The massive resources the European Union is unleashing to rebuild after COVID-19 present a unique opportunity to deal with climate change and improve the ability of firms and individuals to compete in a more digital world. The Investment Report 2021/2022 examines how government interventions helped support investment and enabled firms to weather the crisis. The report's analysis is based on a unique set of databases and data from a survey of 12 500 firms conducted in the summer of 2021
    Note: English
    URL: teilw. kostenfrei
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  • 24
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    EIB Working Paper 2022/13 - COVID-19 and the resilience of European firms : The influence of pre-crisis productivity, digitalisation and growth performance (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286153921
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Banking ; Business & management
    Abstract: Past research suggests that economic crisis lead to a reallocation of resources from less productive to more productive firms, with many firms taking action to boost their own productivity. This paper uses data from the EIB Investment Survey and the ORBIS database to analyse how the COVID-19 crisis affected the level of employment and digitalisation efforts of European firms. Moreover, it examines how these changes relate to the pre-crisis performance of firms, in terms of productivity, digitalisation and growth. It finds that firms were less likely to reduce their number of employees, both in the short and in the long term, if they exhibited higher productivity or higher growth, or were in highly digitalised sectors. It also finds that firms were more likely to increase their use of digital technologies during the crisis if they were already relatively advanced users of digital technologies
    Note: English
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  • 25
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    EIB Working Paper 2022/14 - The scarring effects of major economic downturns : The role of fiscal policy and government investment (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286154072
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Banking ; Business & management
    Abstract: "Despite the efforts of policy makers to tackle recessions as they happen, there is ample evidence that major economic downturns produce lasting negative effects on real GDP, pointing to the existence of "economic scarring". This paper takes a fresh look at economic scarring in 26 OECD countries, including 14 EU member states, since 1970 and examines the role played by fiscal policy in limiting these impacts. It finds that higher current expenditure does not mitigate the lasting impact of major economic downturns on real GDP. By contrast, more government investment could help to do so, but this is generally less favoured as a policy response. As a result, scarring effects are significant, confronting governments with higher debt levels, which in turn weigh on the room for manoeuvre in subsequent downturns. In sum, fiscal policy makers face two difficulties in the event of a major economic downturn: adopting the right type of fiscal expansion, and finding the right time to pivot from short-term stabilisation to fiscal consolidation, while protecting investment."
    Note: English
    URL: kostenfrei
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  • 26
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    Support for female entrepreneurs : Survey evidence for why it makes sense (2022)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286153785
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Economics
    Abstract: Women's economic empowerment has improved rapidly in the last century. Today, many women are not just fully engaged in the workplace; some lead international organisations, corporations and countries. But gender gaps, still prevalent in the European Union and other regions, are costly and imply foregone opportunities not only for women individually, but also for companies that do not fully leverage female talent, and for economies. After a century of impressive progress, overall economic opportunities for women are still lagging behind those of men. On average, women earn 13% less per hour in the European Union. Women are less often entrepreneurs and those that strive to grow their businesses or decide to lead companies face high barriers. Globally and across the European Union, we still have a way to go to achieve gender equality and empower women and girls, as stipulated by the UN Sustainable Development Goals and the European Pillar of Social Rights. Three surveys - the EIB Investment Survey (EIBIS) 2021, the EIBIS Startup and Scaleup Survey 2019 and the EBRD-EIB-World Bank Group Enterprise Survey - show that supporting female-led businesses makes good economic sense, as these companies generate wider economic, social and environmental benefits. Notably, support for female-led businesses can contribute to raising female labour force participation, thereby helping to reduce poverty risks. At the same time, framework conditions that make it easier for women to have professional careers, or establish and run a business successfully, are key to seeing more female-led businesses emerge and thrive
    Note: English
    URL: kostenfrei
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  • 27
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    Online Resource
    EIB Impact Report 2020 : Climate action, environmental sustainability and innovation for decarbonisation (2021)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286150821
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Finance
    Abstract: Investments supported by the European Investment Bank help achieve EU and international policy goals. The report specifically measures the effectiveness of our investments in three key areas: Additionality: the EIB's role is to step in where the market has failed to deliver. Specifically, the EIB examines how our support for a project strengthens it compared to what would have happened without our involvement. Impact: The EIB now measures how its investments contribute to the United Nations Sustainable Development Goals (SDGs). By doing so, the EIB is signalling its commitment to supporting the United Nations' Decade of Action to create peace and prosperity for people and the planet. Climate: The 2021 report focuses on barriers to investment in climate action, environmental sustainability and research and development and innovation for the decarbonisation of energy-intensive industries
    Note: English
    URL: kostenfrei
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  • 28
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    EIB Working Paper 2021/12 : Complementarities in capital formation and production (2021)
    [Erscheinungsort nicht ermittelbar] : European Investment Bank
    Details
    ISBN: 9789286151514
    Language: Undetermined
    Pages: 1 Online-Ressource
    Keywords: Economics
    Abstract: Using macro and firm-level data, this paper investigates the complementarities between investment in different types of tangible assets such as machinery and buildings, and intangible assets such as software, training of employees, and business process improvements. It finds that investment in different assets types tends to be complementary, improving firm performance. Policy measures should address investment bottlenecks arising from market imperfections, while leaving it to the firm to find the most appropriate mix of assets
    Note: English
    URL: kostenfrei
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