This paper assesses the effectiveness of vertical industrial policies within the EU. Vertical industrial policy is defined as government support for specific firms or industries (picking winners or supporting losers) and measured by state aid granted by Member States to the manufacturing...

The success of an economy depends largely on how successful it is in allocating inputs and outputs across businesses efficiently with minimum disruption and frictions. Market institutions that impact this allocation potentially account for productivity differences across countries. Existing...

How much can policymakers improve macroeconomic outcomes by encouraging the entry of high-performance startups? We construct a novel and comprehensive data set on almost 1,5 million startup firms in ten European countries. We then apply cluster analysis to identify distinct startup types and...

Using a large firm level dataset, that covers 18 European countries in the 2006-2014 period, I develop an empirical approach in the spirit of Rajan and Zingales (1998) in order to study whether and to what extent the credit cycle influences the efficient allocation of resources across firms. I...

Can policymakers improve macroeconomic performance by encouraging the entry of high-performance startups? To answer this question, we construct a novel and comprehensive data set on 1.3 million startups in ten European countries. We apply cluster analysis to identify distinct startup types and...

Can policymakers improve macroeconomic performance by encouraging the entry of high‑performance start‑ups? To answer this question, we construct a novel and comprehensive data set on 1.3 million start‑ups in 10 European countries. We apply cluster analysis to identify distinct start‑up...

The EU has experienced different options to support the emergence of champions: (i) targeted support for strategic sectors and large technology initiatives (e.g. Airbus, Ariane, HDTV and ESPRIT); (ii) a support of declining sectors with the ECSC Treaty; and (iii) an emphasis on horizontal...

The European Commission has adopted an Entrepreneurship 2020 Action Plan as its answer to challenges brought by the gravest economic crisis in the last 50 years. Governments of European countries all habour high expectations that entrepreneurship will contribute towards ending the continent's...

We analyse the relationship between the composition of innovation partnerships and the potential of their innovations developed within EU-funded research projects under the Seventh Framework Programme for Research and Technological Development (FP7), the European Union's Research and Innovation...

We review the extant research on the government innovation promotion rationales and impacts. Based on the research literature, the review synthesizes innovation promotion rationales, economic justifications for the intervention, impact evaluations of innovation promotion interventions, and...