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Policies for stronger productivity growth in Latvia

Naomitsu Yashiro, Caroline Klein, Olga Rastrigina and Ania Thiemann

No 1571, OECD Economics Department Working Papers from OECD Publishing

Abstract: Latvia’s productivity growth is held back by weak innovation and inefficient resource allocation. The shortage of skilled workers which constrains innovation and the adoption of digital technologies must be addressed through further alignment of vocational and tertiary education with labour market demand. Strengthening the innovation ecosystem by improving the quality of research and collaboration between firms and research institutions would help to diffuse digital technologies more widely across the economy. Fighting widespread informality, improving the low debt recovery through a more efficient insolvency regime, and reducing substantial state ownership would improve the allocation of resources. Latvia also relies heavily on EU funds to finance its important structural policies. The continuity of the most effective EU funded policy instruments needs to be ensured in the medium term, by integrating them into the national budget.This Working Paper relates to the 2019 OECD Economic Survey of Latvia(http://www.oecd.org/economy/surveys/latvia-economic-snapshot/)

Keywords: Access to credit; Competition; EU Structural funds; Informality; Innovation; Latvia; Productivity; Skills shortage (search for similar items in EconPapers)
JEL-codes: G28 I28 J08 L30 O17 O20 O38 O43 O52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis, nep-lab, nep-sbm and nep-tra
Date: 2019-10-10
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