1) The document analyzes firm-level data from Mexico's National Micro, Small and Medium Enterprise Productivity and Competitiveness Survey (ENAPROCE) to understand factors influencing productivity.
2) Preliminary results show that family business practices, lower human capital, and poorer managerial practices are associated with lower productivity, while innovation and skills training are linked to higher productivity.
3) The data provides insights into policies that could support improving productivity, such as aligning incentives away from nepotism, developing managerial skills, and promoting innovation.
Driving Productivity Growth: The Importance of Firm-Specific Knowledge AssetsStructuralpolicyanalysis
Rebecca Riley National Institute of Economic and Social Research & LLAKES, OECD Global Forum on Productivity UK Workshop, HM Treasury, London 14 October 2016
Marco Manzo and Alessandro Modica - Finance Dept. - Italy
Giancarlo Infantino - Treasury Dept. - Italy, OECD Global Forum on Productivity – October UK Workshop - London, 14 October 2016
Driving Productivity Growth: The Importance of Firm-Specific Knowledge AssetsStructuralpolicyanalysis
Rebecca Riley National Institute of Economic and Social Research & LLAKES, OECD Global Forum on Productivity UK Workshop, HM Treasury, London 14 October 2016
Marco Manzo and Alessandro Modica - Finance Dept. - Italy
Giancarlo Infantino - Treasury Dept. - Italy, OECD Global Forum on Productivity – October UK Workshop - London, 14 October 2016
The world is rapidly changing. Far more rapidly than most people know or can imagine. When a big huge country like India gets involved in the change process, expect radical surprise.
Περιγραφή της δράσης/ εκστρατείας
Οι μαθητές του Ε2 του 2ου Πρότυπου Πειραματικού Δημοτικού Σχολείου Ρόδου, πραγματοποίησαν μία εκστρατεία, η οποία περιλάμβανε μια σειρά από δράσεις ευαισθητοποίησης απέναντι στα ζώα. Στα πλαίσια της εκστρατείας «Η Ακαδημία για τα ζώα», οι μαθητές:
• Έστειλαν επίσημη αιτητική επιστολή στην διεύθυνση του Σχολείου, προκειμένου να πάρουν έγκριση για τη διεξαγωγή των δράσεων στα πλαίσια της εκστρατείας.
• Δημιούργησαν ενημερωτικά φυλλάδια σχετικά με την εκστρατεία, τα οποία μοιράστηκαν στο σύνολο των μαθητών του σχολείου.
• Δημιούργησαν λογαριασμό ηλεκτρονικού ταχυδρομείου ειδικά για τις ανάγκες τις εκστρατείας, στον οποίο καλούσαν τους μαθητές των υπολοίπων τάξεων να στείλουν φωτογραφίες με τα δικά τους κατοικίδια ζώα.
• Κατασκεύασαν ετικέτες με το όνομα της εκστρατείας, προκειμένου να φορεθούν κατά τη διάρκεια της ενημέρωσης από τα όλους τους συμμετέχοντες στην εκστρατεία.
• Έφτιαξαν αφίσες με ενημερωτικό περιεχόμενο σχετικά με τα οφέλη που προσφέρουν στον άνθρωπο τα κατοικίδια ζώα και το νέο νόμο που ψηφίστηκε το 2014 στην Ελλάδα για τα ζώα.
• Συνέταξαν και μορφοποίησαν ενημερωτικό φυλλάδιο με φιλοζωικό χαρακτήρα , το οποίο και αναπαρήγαγαν με δικά τους έξοδα, προκειμένου να μοιραστεί σε γονείς και μαθητές.
• Έγραψαν και σκηνοθέτησαν μικρού μήκους ταινία, με φιλοζωικό περιεχόμενο ευαισθητοποίησης, την οποία και προέβαλαν στη χριστουγεννιάτικη γιορτή του σχολείου μας.
• Συγκέντρωσαν το χρηματικό ποσό των 270 ευρώ, με το οποίο αγόρασαν 360 κιλά ζωοτροφή (για σκύλους), την οποία και μοίρασαν εξίσου στους 3 μεγαλύτερους φιλοζωικούς μη κερδοσκοπικούς συλλόγους του νησιού σ
Apresentação da Defesa de Mestrado em Comunicação na USCS - Universidade Municipal de São Caetano do Sul -SP, para o GENN/ECA/ABERJE - Grupo de Estudos de Novas Narrativas, grupo de pesquisa vinculado à ECA-USP e à Aberje.
On the 3rd of July 2018, Dr Chuah Lay Lian from the Macroeconomics and Growth team of the World Bank’s Development Research Group hub in Kuala Lumpur presented on the topic of “Resource Misallocation and Productivity Gaps in Malaysia”.
This survey seeks to understand some of the key priorities for manufacturers as well as their strategies for growth, specifically with respect to capabilities, physical resources and human capital.
This paper discusses the Irish economy’s recent growth performance and considers its medium-and-long-term prospects for growth. A range of policy reforms to increase the economy’s long-run potential output are identified. The best way to sustain productivity growth is to increase investment in education and skills, particularly early years learning; to increase investment in the production, diffusion and use of new ideas, and to increase investment in productivity enhancing infrastructure.
Effects of economic incentives on business start ups in the US: County level ...OECD CFE
Presentation by Carlianne PATRICK, Associate Professor
Georgia State University (US) at the 10th Spatial Productivity Lab meeting of the OECD Trento Centre, co-organised with Swedish Entrepreneurship Forum, held in virtual format on 29 October 2020.
More OECD info: https://oe.cd/SPL
More Swedish Entrepreneurship Forum info: https://entreprenorskapsforum.se/en/
Alessandra Faggian -The impact of external knowledge sourcing on innovation o...OECD CFE
Presentation by Alessandra Faggian, Gran Sasso Science Institute, L’Aquila, Italy at the OECD Workshop on Spatial Dimensions of Productivity, 28-29 March 2019, Bolzano.
More info: https://oe.cd/GFPBolzano2019
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Using firm-level micro data for evidence based policy making
1. Using Firm-level micro data for evidence-based
policy making
OECD Productivity Network
Juan Rebolledo
October, 2016
1
2. Research based on ENAPROCE’s policy-relevant data.
Understanding the Productivity gaps across
firms, sectors, and economic regions in Mexico.
Mexico’s National Micro, Small and Medium Enterprise
Productivity and Competitiveness Survey, the first effort to
measure “hard-to-observe” skills at the Firm-level.
INDEX
2
3. Productivity and low economic growth in Mexico
Total Factor Productivity decline in Mexico
(1990-2014)***
(***) Source: INEGI.
90
92
94
96
98
100
102
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Average Growth in GDP and Productivity
(Annual growth rate, 1980-2014)
(*) Source: Penn World Table 8.1 (1980-2011) and The Conference Board (2011-2014).
(**) Source: Penn World Table 8.1 (1980-1990) and INEGI (1990-2015), based on KLEMS methodology.
6.4%
4.0%
4.6%
2.5%
1.2%
0.6%
-0.2%
-0.8%
Korea* Ireland* Chile* Mexico**
GDP Productivity
Total Factor Productivity (TFP) has declined
since 1990. In 2014 it was 7.8% lower than in 1990, an
annual fall of 0.4%, on average.
3
5. 0.5 times the national average
0.6 times the national average
0.7-0.8 times the national average
0.9 times the national average
Above the national average
In Mexico, the Northern border is 2.5x more productive than the
South and has 2x more formal employment.
Labour productivity by state
Source: INEGI.
57.20%
40.43%
80.07%
National Average Northern Border South
Informality
(% of working population)
2x
The inefficient allocation of factors of
production results in wide productivity gaps In Mexico,
employment in
manufactures
along the northern
border (20.4%) is
more than twice
that of the south
(9.4%).
5
6. Firm-endogenous factors may also
explain low productivity
Managerial practices
Innovation
Production chain integration
Training
MSME
productivity
Financing
However, recent literature
suggests that other non-given
firm-level characteristics,
such as:
managerial practices,
training,
use of ICTs,
financial access,
better capital or innovation
also influence firm-level
productivity2.
1For example: La Porta and Shleifer (2008), Gennaioli (2013) and Hurst and Pugsley (2011).
2 Bloom et al (2010).
(*) Informality could be considered either endogenous or exogenous, or both.
Most of the empirical
evidence that explains the
low productivity of firms
across countries, especially
among MSMEs, has
studied exogenous factors
that influence firm
productivity, such as the
quality of infrastructure,
informality*, government
regulations, trade policies,
and levels of human
capital1.
6
7. The productivity of Firms in developing countries
appears to be extremely low and disperse
Management
Practices
Poor management practices
have a substantial negative
impact on productivity in
developing countries. Latin
American countries have
significantly lower average
management scores. In
India, training on basic
management practices led
to a 50% reduction in
quality defects in 3 months1.
Delegation of
Decision Making
The lack of delegation of
decision making negatively
impacts the productivity of
firms in developing
countries. In some, a sign-
off from owners is required
for every purchase, while
managers in Japan and the
US can make investments
of up to $50,000 directly1.
Human Capital
Firms in cities with small
growth rates in their college
graduate populations miss
out on potential human
capital externalities and have
lower productivity rates after
controlling for firms’ actual
levels of human capital2.
1Bloom et al. (2010)
2Moretti (2004)
3Suresh De Mel, McKenzie, and Woodruff (2007a); Banerjee and Duflo (2008)
4De Fuentes et al. (2004)
*KIBS refers to Knowledge-intensive based services.
ENAPROCE is a recent effort by the Mexican government to provide firm-level micro
data precisely on these factors that may explain productivity.
Relevant evidence points to the following factors:
Financial Constraints
Micro and small enterprises in
developing countries have
difficulty accessing formal
financial resources, despite
their marginal returns being
higher than average interest
rates. An experiment in Sri
Lanka found a causal
relationship between firms’
access to finance and growth
in their profits or sales3.
Innovation
An IDB discussion paper
finds that only 13.7% of
Mexican firms surveyed
reported having innovated.
This was lower for firms in
the services (6.6%) and KIBS
(10.5%) sectors*. It also
found intensive investment in
innovation has a positive
effect on labour productivity
and is unrelated to firm size4.
7
8. 96% Response Rate
Stratification by sector,
region, and firm size
25,456 firms in sample
ENAPROCE characteristics — 2015 baseline for panel data
The information provided by ENAPROCE enables researchers to study the determining factors
behind the lagging productivity of MSMEs in the country.
managerial practices
financing
government support
innovation
training
Main themes
use of ICTs
Source: ENAPROCE 2015.
production chain integration
business atmosphere
Productivity measurement:
Törnqvist changing-weight index
A Törnqvist formula expresses the
change in multifactor productivity as
the difference between the rate of
change in output and the weighted
average of the rates of change in the
shares and prices of inputs.
human capital
8
9. ENAPROCE representativeness
Source: ENAPROCE and World Bank.
• Large sectors
(industry, retail and
services)
• Size
• Strategic sectors*
**Regions are defined as follows:
North: Baja California, Baja California Sur, Sinaloa, Sonora, Coahuila, Chihuahua, Durango, Nuevo León and Tamaulipas West:
Aguascalientes, Colima, Guanajuato, Jalisco, Michoacán, Nayarit, San Luis Potosí and Zacatecas
Center: Distrito Federal, Hidalgo, México, Morelos, Querétaro and Tlaxcala;
South: Campeche, Chiapas, Guerrero, Oaxaca, Puebla, Quintana Roo, Tabasco, Veracruz and Yucatán
State
Level
National
Level
Regional
Level**
• SMEs
• Strategic sectors*
• Micro enterprises
• Strategic sectors*
Observation unit:
Firm
Some firms have one or more
establishments under the same
business name. To account for
location, the parent company or
the establishment with the biggest
number of employees is
considered.
*Strategic sectors:
• Electrical appliances
• Communication and electronics equipment
• Ground transportation equipment
• Medical equipment
• Textile industry
• Plastics and rubber
• Wood products
• Construction products
• Business support services
• Tourism services
• Pharmaceutical products
• Chemical industry
• R&D services
9
10. Firm heterogeneity by size
305%
200%
274%
Retail Manufactures Services
Total Factor Productivity heterogeneity by sector
(Gap between percentile 10 and percentile 90)
Total Factor Productivity Kernel density by firm size
Micro
Small
Medium
Large
Source: ENAPROCE and World Bank.
10
11. Preliminary data analysis
- Relatives as owners of businesses
- Relatives as firm decision-makers
Family business practices
- Target-based planning
- Incentives and salaries
- Employee monitoring
Managerial practices
- Share of uneducated workers
- Share of workers with various levels of
educational attainment
Higher education
Innovation
- Patent registration
- Use of ICTs
- Presence of innovation spending
- Innovation spending per worker
- Presence of certifications
- Presence of financing
- Sources of financing
- Costs of financing
Financing
11
12. Firm characteristics prevalent in Mexico are
associated with higher productivity
Family
business
These practices are negatively
correlated with higher firm
productivity. Their presence
reduces firm productivity by almost
Dependent variable: ln(TFP) (1) (2) (3) (4) (5)
Firm characteristics
Share of workers with HE
0.0004
(0.0000)***
0.0004
(0.0000)***
0.0005
(0.0001)***
.0004
(.0000)***
.0004
(.0000)***
Family practices
-0.15
(0.0230)***
-0.19
(0.0473)***
-.15
(.0230)***
-.14
(.0235)***
Survey indices
Managerial practices z-score
0.11
(0.0166)***
Financing z-score
.04
(.0081)***
Innovation z-score
.09
(.0089)***
Note: all regressions control for K, L, and the state in which the firm is established.
15%
The various indices are constructed using factor analysis. Firm weights
were utilized, and in all cases, only the first factor was considered. The
factor analysis strongly suggests that the indices are accurate
representations of the underlying variables.
Small and Medium Firms
12
13. Family
business
Their presence reduces
firm total factor
productivity by almost
The presence of family business practices is
associated with lower productivity levels
Low human
capital
33%
lower share of
HE workers
Indebtedness
and credit application
TFP
-10%
=
15%
Indebted
Family business practices
reduce scores by
0.09 SD
Managerial
practices
-10%
Loandenied
13
14. 0
0.2
0.4
0.6
0.8
1 2 3 4 5 6 7 8 9 10
Productivity
Managerial practices decile
Productivity by managerial practices score decile
Relationship between managerial practices, innovation
and productivity
Firms that score higher on the managerial practices index tend to be more
productive and spend more on innovation per worker.
Source: ENAPROCE and World Bank.Source: World Management Survey, Management Matters, Manufacturing Report (2014).
Mexico
0%
5%
10%
15%
20%
1 2 3 4 5 6 7 8 9 10
Shareoffirmsthatexport
Managerial practices decile
Share of firms that export by managerial practices
score decile
14
15. Better Managerial Practices lead to improvements
in productivity, and higher investment in
innovation and training
Bigger firms,
better managers
Managerial practices improve
as firm size increases:
Large - Medium = ∆ 0.4 SD
Medium - Small = ∆ 0.2 SD
Large - Small = ∆ 0.6 SD
Skills
formation
Firms with higher MP scores have
more training.
Firms with training have a score
0.4 SD higher
Managerial
practices
A 1 SD standard deviation
rise in the MP score is
associated with a
productivity increase of
10%
=
Youngerfirms
havelower
scores
0.2
0.6 0.6 0.6
0.5 0.5
0.6 0.6
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Score
years
15
16. Firms with higher innovation scores train their workers
more and experience improvements in productivity
Investmentin
innovationincreases
dramaticallyafteryear1
=
Innovation
A higher score in the innovation
index is also positively correlated
with increases in productivity.
A 1 SD rise is associated with a
productivity increase of
9% Skills
formation
Firms with higher innovation
scores have more training.
Firms with training have a score
0.5 SD higher
Biggerfirms
scorehigher
Larger firms invest
2x
more on innovation
than other firms
0.3
1.1
1.4
1 0.9
1.9
4.2
0
1
2
3
4
5
1 3 4 5 6 7-10 >10
Innovationexpenditures
(mpp)
Years
16
17. Financial capacity has mixed results on the
mechanisms that lead to higher productivity
Financing
A 1 SD increase in the financing
index score results in a
productivity rise of
4%
FDI
Financing score is
0.4 SD higher
if the firm has FDI
Supplierof
foreignfirms
Supplierof
exporters
Financing score is
0.4 SD lower
if the firm is a supplier to firms that
are exporters
Financing score is
0.4 SD lower
if the firm is a supplier to
foreign firms
=
17
18. What do we learn from these preliminary results?
1. Family Business
Align incentives for firms to hire professional managers instead of family members to improve corporate governance.
2. Managerial practices
In order to meet the best international managerial practices, design policies aimed to support firms when they find
themselves at their weakest: around the time they are established or when they take out loans.
3. Financing
Given the analysis’s mixed results on financial practices and being a part of the global market, more research should
be done in order to clarify the mechanisms that underlie MSME financing.
According to the scores analyzed, in terms of productivity gains, policies that target family business and
managerial practices offer the highest benefits.
18
19. Research agenda: moving forward
Exporters and FDI
Look at the characteristics
specific to foreign firms,
firms that export or firms
that have shares of foreign
capital.
Leading and lagging
firms:
Analyze leading and lagging
firms’ productivity and
salaries by sector. Look at
leading and lagging firms’
convergence rate across
sectors and regions.
Stock of Knowledge
and RoR
Observe differing patterns in
terms of technology
adoption and innovation
practices.
Firm Survival
Identify the factors behind
firm survival and the changes
in financing, management
practices and decision-making
over time.
1. 2. 3. 4.
19