EU11 Regular Economic Report, Issue #27, June 2013

This economic report covers economic developments, prospects, and policies in 11 European Union (EU) countries. Throughout the report this group of eleven countries is referred to as EU11.The economic recovery of the EU11 countries was put on hold in 2012 as the external environment weakened and domestic demand subsided. All EU11 countries, with the exception of Latvia, grew slower than in 2011. The overall Gross domestic product (GDP) growth of 0.8 percent in 2012 was just a quarter of the pace recorded the year before. Domestic demand, in particular investment, abated, leaving net exports as the sole driver of growth. In addition, the number of EU11 countries in recession doubled to four, after the Czech Republic and Hungary joined Slovenia and Croatia. Overall, this empirical result confirms that, in qualitative terms, the analyzed firm characteristics affect job creation both during recessions and economic recoveries. They indicate that the more productive firms tend to be less vulnerable to economic downturns. Accordingly, any type of activities that increase productivity can be expected to reduce the overall exposure of the EU11 economies to recessions and, therefore, should allow firms to compete more successfully with international competitors.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2013-06
Subjects:	ACCESS TO FINANCE, ACCESS TO FINANCING, ACCOUNTING, ADVANCED ECONOMIES, ADVERSE IMPACT, AGRICULTURE, BALANCE SHEETS, BANK FOR INTERNATIONAL SETTLEMENTS, BANK LENDING, BANK OF ENGLAND, BANK OF JAPAN, BANKING MARKETS, BANKING SECTOR, BASIS POINTS, BOND, BOND ISSUANCES, BORROWER, CAPITAL FLOWS, CAPITAL FORMATION, CAPITAL INFLOWS, CAPITAL MARKET, CAPITAL OUTFLOW, CDS, CENTRAL BANK, CENTRAL BANKS, COMPETITIVENESS, CONFIDENCE INDEX, CONSOLIDATION, CONSUMER CONFIDENCE, CONSUMER LOANS, CONSUMER PRICE INDEX, CREDIT CONSTRAINTS, CREDIT CONTRACT, CREDIT DEFAULT, CREDIT DEFAULT SWAP, CREDIT GROWTH, CREDIT RATINGS, CREDITORS, CROSS-BORDER FLOWS, CURRENT ACCOUNT, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, CURRENT ACCOUNT DEFICITS, DEBT FLOWS, DEBT LEVELS, DEBT RATIO, DEFICITS, DEFLATION, DEPOSIT, DEPOSITS, DISABILITY PENSIONS, DISPOSABLE INCOME, DIVERSIFICATION, DOMESTIC DEMAND, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENTS, ECONOMIC EXPANSION, ECONOMIC GROWTH, ECONOMIC OUTCOMES, ECONOMIC OUTLOOK, ECONOMIC PERFORMANCE, ECONOMIC POLICY, ECONOMIC REFORMS, EIB, EMERGING MARKETS, EMPLOYMENT GROWTH, ENFORCEMENT OF CONTRACT, EQUIPMENT, EUROPEAN CENTRAL BANK, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURE, EXPENDITURES, EXPORT GROWTH, EXPORTERS, EXPORTS, EXTERNAL BORROWING, EXTERNAL DEBT, EXTERNAL SHOCKS, FEDERAL RESERVE, FEDERAL RESERVE BANK, FINANCIAL INTERMEDIARIES, FINANCIAL INTERMEDIATION, FINANCIAL MARKET, FINANCIAL STABILITY, FINANCING NEED, FINANCING NEEDS, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL EFFORT, FISCAL EFFORTS, FISCAL POLICIES, FISCAL POLICY, FIXED CAPITAL, FLOATING EXCHANGE RATES, FORECASTS, FOREIGN BANKS, FOREIGN CURRENCY, FOREIGN CURRENCY LOANS, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTORS, GDP, GLOBAL ECONOMY, GLOBAL FINANCIAL STABILITY, GLOBAL MARKETS, GLOBAL TRADE, GOVERNANCE ISSUES, GOVERNMENT BONDS, GOVERNMENT BORROWERS, GROSS FIXED CAPITAL FORMATION, GROWTH POTENTIAL, GROWTH RATE, HOLDING, HOLDINGS, HOUSEHOLDS, HOUSING, HUMAN RESOURCES, IMBALANCES, IMPORT TARIFFS, IMPORTS, INDEBTEDNESS, INFLATION, INFLATION RATE, INFLATIONARY PRESSURES, INFORMATION TECHNOLOGY, INSTITUTIONAL INVESTORS, INSURANCE, INTEREST RATE, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL FINANCE, INTERNATIONAL FINANCIAL MARKETS, INTERNATIONAL FINANCIAL STATISTICS, INTERNATIONAL SETTLEMENTS, INVENTORIES, INVENTORY, INVESTMENT ACTIVITY, INVESTMENT DECISIONS, INVESTMENT PORTFOLIO, ISSUANCE, JOB CREATION, KEY CHALLENGE, LABOR COSTS, LABOR MARKET, LABOR MARKETS, LENDERS, LENDING CONDITIONS, LIQUIDITY, LOAN, LOCAL MARKET, LOCAL MARKETS, LOSS OF REVENUE, MACROECONOMIC CONDITIONS, MACROECONOMIC PERFORMANCE, MARKET CONDITIONS, MARKET SHARE, MARKET SHARES, MINIMUM WAGE, MINISTRIES OF FINANCE, MONETARY AUTHORITIES, MONETARY POLICIES, MONETARY POLICY, NET EXPORTS, NEW MARKET, NON-PERFORMING LOANS, NONPERFORMING LOANS, OFFSHORE FINANCIAL CENTERS, OIL PRICES, PENSION, PENSION REFORM, PENSION SYSTEMS, PORTFOLIO, PORTFOLIO FLOWS, PORTFOLIO INFLOWS, PORTFOLIO INVESTMENT, PORTFOLIO INVESTMENTS, POTENTIAL OUTPUT, PRIVATE CREDIT, PRIVATE INVESTMENT, PRIVATE SECTOR CREDIT, PRIVATIZATION, PRODUCTIVITY, PROPERTY RIGHTS, PUBLIC BORROWING, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC FUNDS, PUBLIC INVESTMENT, REAL EFFECTIVE EXCHANGE RATES, REAL ESTATE, REAL GDP, RECEIPTS, RECESSION, RESERVES, RESIDENTIAL MORTGAGES, RETURN, RETURNS, RISK AVERSION, SAVINGS, SOCIAL EXCLUSION, SOVEREIGN BOND, SOVEREIGN RATING, SOVEREIGN RATINGS, SOVEREIGN RISK, SOVEREIGN RISKS, STRUCTURAL REFORM, STRUCTURAL REFORMS, SUBSIDIARIES, SUBSIDIARY, TAX, TAX BURDEN, TAX INCENTIVES, TAX REVENUES, TELECOMMUNICATIONS, TRADE BALANCES, TRADE DEFICIT, TRADE FLOWS, TRANSPORT, UNEMPLOYMENT, UNEMPLOYMENT RATE, UNEMPLOYMENT RATES, UNION, VALUE ADDED, VARIABLE INTEREST RATES, WAGES, WHOLESALE FUNDING, WTO,
Online Access:	http://documents.worldbank.org/curated/en/2013/06/17854302/eu11-regular-economic-report-macroeconomic-report-economic-recovery-hold-special-topic-determinants-joc-creation-eu11-evidence-firm-level-data https://hdl.handle.net/10986/16527
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