See also Canton, E. (2016), “Drivers of total factor productivity growth in the EU: the role of firm entry and exit”, Quarterly Report on the Euro Area, Directorate General Economic and Financial Affairs, European Commission, vol. 15(1), pp. 25-35. [9] See Calvino, F., Criscuolo, C. and Menon, C. (2016), “No country for young firms?
Startup dynamics and national policies”, Technology and Industry Policy Papers, No 29, OECD Science. [10] See Consolo, A., Malfa, F. and Perluigi, B. (2018), “Insolvency frameworks and private debt: an empirical investigation”, ECB Working Paper No 2189. [11] See Andrews, D. and Petroulakis, F. (2019), “Breaking the shackles: Zombie firms, weak banks and depressed restructuring in Europe”, ECB Working Paper No 2240.