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Kiel Institute for World Economics Kiel Working Papers, Kiel Institute for World Economics

No 1035:
Technology and Economic Performance in the German Economy

Horst Siebert and Michael Stolpe

Abstract: Germany remains Europe's largest and most diversified source of new technology, but still lags in the fastest growing areas of today's high technology. After World War II, West-German technology policy sought to rebuild the institutions which had supported Germany's leadership in the high-tech industries of the early twentieth century – automobiles, machinery, electrical engineering, chemicals and pharmaceuticals. Increasingly, however, those institutions are seen as failing to respond to new technological stimuli. In addition, Germany's bank-centered capital and inflexible labor markets have long constrained the opportunities of innovative firms for equity-based growth and the incentives for academic brains to set up in private business. Promising changes in technology policy and capital market conditions can be observed only since the mid-1990s.

Keywords: Technological Change, Economic Growth and Aggregate Productivity, Economywide Country Studies, Regulation and Industrial Policy; (follow links to similar papers)

JEL-Codes: L5; O3; O4; O5; (follow links to similar papers)

56 pages, April 2001

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