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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