Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/2570
Authors: 
Siebert, Horst
Stolpe, Michael
Year of Publication: 
2001
Series/Report no.: 
Kiel Working Paper 1035
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.
Subjects: 
economic growth and aggregate productivity
economywide country studies
regulation and industrial policy
technological change
JEL: 
L5
O4
O5
O3
Document Type: 
Working Paper

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