Encouraged by the forbearance of creditors and exit barriers (e.g., inefficient insolvency regimes), the zombie phenomenon has weakened business dynamism and, as a consequence, has slowed economic growth in most economies in recent decades. In this paper, we examine the recovery and exit of...

This paper postulates that a country's competitiveness is sticky, i.e. it does not react immediately to changes in underlying framework conditions. The causes of this stickiness can be categorized along three dimensions. First, there is a delay between policy actions and their impact on...

In addition to firm and industry characteristics, the heterogeneity of foreign direct investment (FDI) has to be taken into account when analyzing the determinants of outward FDI. We combine two firm-specific datasets on German firms with subsidiaries and joint ventures in the Czech Republic,...