Interest rates are generally set anti-cyclically, but they might not be enough to tame the swings of the financial sector, or might be too blunt an instrument if the boom (and subsequent bust) is concentrated in some specific sector, for example real estate.
7 An economy populated by small firms that do not grow is therefore likely to be one with lower investment in ICT, and therefore lower TFP growth. The reasons why euro area firms grow more slowly are complex, but structural policies certainly play a role.