Supporting Investors and Growth Firms: A Bottom-Up Approach to a Capital Markets Union [Paperback]

High-growth and innovative firms are the drivers of tomorrows jobs and our future prosperity. Supporting these firms, including how they can access finance, should be one of the highest policy priorities of European governments. By seeking to provide deeper pools of capital across the EU for firms and reducing dependence on bank financing, the EUs proposed Capital Markets Union initiative can make a significant contribution to this agenda.

This publication focuses on how the Capital Markets Union might lead to tangible gains in investment and jobs growth. It is based on a micro analysis of the challenges faced by growth and innovative firms in six large member states. The report proposes a bottom-up policy agenda to complement the EUs approach, focused on improving the tax, legal and business support environment for investors and firms.

Thomas Aubrey is a senior adviser at Policy Network and chief executive and founder of Credit Capital Advisory.

Renaud Thillaye is deputy director of Policy Network and lead researcher on EU affairs.

Alastair Reed is a researcher at Policy Network.