Productivity Profile of Belgium
National Productivity Board: officially installed on 14 May 2019. It is composed of twelve members, six at federal and six at regional level. The federal institutions (the Central Economic Council, the Federal Planning Bureau and the National Bank of Belgium) are each represented by two members. At the regional level, the Flemish, Brussels and Walloon region are each represented by two members;
National Productivity Board: First Report (2019);
Federal Planning Bureau: Tax Incentives for Business R&D in Belgium: third evaluation (2019), Growth and Productivity in Belgium (2017) Young Firms and Industry Dynamics in Belgium (2016).
National Bank of Belgium: Productivity slowdown: Findings and tentative explanations (2018), IT and productivity: a firm level analysis (2018), Compositional changes in aggregate productivity in an era of globalisation and financial crisis (2018), Up or out? Portrait of young high-growth firms in Belgium (2017), Raising the Growth Potential and Resilience of the Economy (2016).
OECD: In-depth Productivity Review of Belgium (2019).
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Latest OECD Recommendations
- Promote competition and ease regulatory restrictions in services. Also, involve the competition authority in competition impact assessments for new laws.
- Improve the effectiveness of government support for R&D, by shifting support from the two corporate tax incentive measures to direct government funding.
- Foster business dynamism by strengthening the provision of venture capital to fast growing young firms, and by continuing to reform the insolvency regime of firms.
- Facilitate the job mobility of workers away from ailing firms by making it easier for firms in difficulties to downsize.
- Support the creation of a new culture of lifelong learning by raising the legal entitlement of training.
- Give firms and workers more freedom to set wages by allowing for more decentralisation of the collective bargaining system.