UID:
almahu_9949858822202882
Umfang:
1 online resource (246 p.)
Ausgabe:
1st ed.
ISBN:
92-861-5648-0
Inhalt:
The European economy is under pressure. Growth is slowing and competitive challenges are rising, all while EU firms navigate the demands of the green transition. Coordinated support from national governments and EU institutions proved critical after the COVID-19 pandemic, helping Europe to bolster its resilience to future shocks and spurring the investment needed to transform and modernise the economy. As a result, progress was made in digitalisation, energy efficiency, decarbonisation and reinforcing supply chains.The pace of change needs to accelerate, however, even as investment becomes harder to sustain. To remain competitive, the European Union and its members need to improve productivity, encourage innovation, address skill gaps, develop new technologies and supporting young, dynamic firms. The report, which is based on the EIB Group's annual Investment Survey, provides insights on how EU firms are dealing with these pressures, and whether they are taking the necessary steps to transform their businesses.The report's Key Findings are available here.Contents Part I Sustaining investment in challenging times 1. The macroeconomic environment 2. Government investment 3. Corporate investment Part II Accelerating transformation for competitiveness 4. Innovation in the global context 5. Investing in green transformation Data annex Glossary of terms and acronyms
Anmerkung:
Intro -- Table of contents -- Preface -- Key findings -- As growth slows and downside risks increase, the challenge of competitiveness returns to the fore -- Looking back, policy intervention proved critical, underpinning public and private investment and al -- Looking forward, the pace of investment and transformation may be harder to sustain -- Firms have made competitiveness-enhancing progress on innovation, digitalisation and the resilience -- Competitiveness will also require further progress on decarbonisation, building on the recent accele -- Amid fiscal consolidation, future competitiveness will require targeted regulatory and financial int -- Part I: Sustaining investment in challenging times -- Chapter 1: The macroeconomic environment -- Introduction -- A bird's eye view of the economy -- Firms initially remained profitable despite rising energy and wage costs and tighter funding conditi -- Firms preserved their profitability in the face of rising energy and wage costs -- The increase in energy and wage costs may have longer-term consequences -- Tighter monetary policy gradually raised firms' funding costs without provoking wider financial inst -- Domestic demand supported investment but started to fade -- Households tapped their savings to pay for increased spending, but those savings now appear to be ex -- Unemployment remains low but job openings are starting to dry up -- Public spending softened the energy shock, but EU members are now cutting back -- External demand has stalled, but may recover soon -- Conclusion and policy implications -- References -- Chapter 2: Government investment -- Introduction -- Government capital expenditures remain resilient despite challenges -- Strong government investment despite a string of crises -- Infrastructure investment has been growing since 2018.
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Local and regional governments play an essential role in public investment -- Subnational government investment is substantial and more volatile than central government investmen -- Administrative efficiency and financial development are crucial for local and regional investment -- A lack of skills and economic volatility constrain local and regional investment -- The implementation of the Recovery and Resilience Facility is key -- The Recovery and Resilience Facility provides a boost to public investment -- Recovery and Resilience Facility disbursements have experienced delays -- Widening gap between plans and achievements -- The resilience of government investment should be a policy priority -- The looming reintroduction of EU fiscal rules may jeopardise government investment -- Government investment can buoy private investment -- Conclusion and policy implications -- References -- Chapter 3: Corporate investment -- Introduction -- Legacies of the crises -- The rise in energy prices has hit firms, albeit less than expected -- Fragilities have risen unevenly, weighing on the investment outlook -- Uncertainty about the future prevails as the economy undergoes structural changes -- External finance is harder to come by, but profits are higher -- Firms recorded strong profits by passing cost increases on to clients -- More challenging external financial conditions are affecting firms unevenly -- Finding alternatives to internal funding -- Investment impediments and structural bottlenecks -- A proper securitisation market can improve small firms' access to finance -- The lack of private equity and venture capital finance is weighing on promising firms -- Removing structural impediments would unlock investments -- Targeted support to boost investments and transformation -- Conclusion and policy implications -- References.
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PART II: Accelerating transformation for competitiveness -- Chapter 4: Innovation in the global context -- Introduction -- The European Union's place in global innovation -- The rise of digital firms among the top global R& -- D companies -- Patenting activities in digital technologies, green technologies and biotechnologies -- Investment in innovation and the adoption of digital and green technologies -- Investment to develop or introduce new products, processes or services -- Adopting digital technologies -- Adopting green technologies -- EU exposure to the global economy -- The role of policy -- Conclusion and policy implications -- References -- Chapter 5: Investing in green transformation -- Introduction -- The energy shock has triggered a rethinking of EU energy markets -- The energy shock and EU climate policy are pushing firms to transform -- Energy-intensive industries are forging a greener path, but challenges persist -- Firms favour mitigation over adaptation measures, creating a gap in climate resilience -- Conclusion and policy implications -- References -- Data annex -- EIB Investment Survey -- General module -- Representativeness of the general module -- EIB Municipality Survey 2022 -- EIB ETS Survey 2023 -- EIBIS-Orbis matched dataset -- Patent data -- PATSTAT -- References -- Glossary of terms and acronyms.
Sprache:
Englisch
Schlagwort(e):
Electronic books.
URL:
View this content on Open Research Library.
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