•  Other measures devoted to human capital accumulation, through improving higher education systems and supporting training and life-long learning, and a higher share and more efficient expenditure in research and development, enhance productivity growth in the long-run and also increase non-price competitiveness.
8 Xavier Freixas, Bruno Parigi, and Jean-Charles Rochet show that a similar kind of collective action problem can arise in a network akin to a modern check-clearing system in which credit extensions among banks allow claims on one institution to be fulfilled by another.