and private sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern … experience of the emerging countries of Asia and Latin America. 3) Productivity improvement was immediate in the US, but Europe … hoarded labour and productivity improvements were in general delayed. Southern European countries have hardly adjusted so far …

and private sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern … experience of the emerging countries of Asia and Latin America. - Productivity improvement was immediate in the US, but Europe … hoarded labour and productivity improvements were in general delayed. Southern European countries have hardly adjusted so far …

growth ; deleveraging ; productivity ; convergence ; economic adjustment ; structural reform scoreboard ; composition of … sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern European countries … emerging countries of Asia and Latin America. Productivity improvement was immediate in the US, but Europe hoarded labour and …

productivity (TFP), as well as possible government responses to these shocks, in particular, changes in industrial policy. In …

paper also presents evidence of conditional convergence in productivity across countries. However, the speed of convergence … productivity in a sample of 93 countries (at its largest) observed between 1975 and 1999. I provide empirical evidence that … financial liberalization spurs productivity growth and marginally affects capital accumulation. Banking crises depress both …

convergence rates. Consistent with theories, the persistence of productivity differentials is found to be positively correlated …, productivity convergence appears to be enhanced by human capital but deterred by government spending. … determinants of cross-country differences in the persistence of productivity differentials Specifically, we focus on the effects of …