Multinational enterprises (MNEs) manipulate the location of their debts to reduce their corporate tax burden. Indeed, by locating debts in higher-tax rate countries, MNEs can deduct interest payments against a higher tax rate. This paper provides evidence of such manipulation of debt location....

The Korean government has made fostering a “creative economy” a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role. However, the venture capital market is still at an early stage of...

A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level. The returns from Korea’s large...

SMEs and entrepreneurs are of critical importance for reaching climate objectives. They have a significant environmental footprint on aggregate, but also make important contributions to reaching net zero through their innovations and greening efforts. This paper discusses the importance of...

Despite Greece’s long history as a trading nation, the country is failing to live up to its export potential. Small and medium-sized enterprises (SMEs) could significantly contribute to strengthening Greece’s export performance, thereby helping to jump-start economic growth and job creation...

Making SMEs and start-ups a driver of growth and job creation requires a number of policies to improve the performance of SMEs, whose labour productivity in the manufacturing sector has fallen to less than a third of that in large companies. The large-scale support for SMEs should shift from...

Raising productivity requires addressing a wide range of policies that affect resource allocation, the creation and diffusion of technology, human capital and the creation and financing of start-ups. The greatest gains can be achieved in the service sector and in SMEs, where productivity has...