Germany's Technological Specialization Assures Growth Opportunities
AbstractGermany's economic profile gives reason to believe that the country will emerge strengthened from the current economic crisis. Germany boasts the world's highest share of value-added output attributable to (R&D) intensive goods and knowledge intensive services. At the same time, Germany possesses an extremely broad range of economic sectors that rely on R&D intensive goods and knowledge intensive services. German firms have strong competitive advantages in numerous industries, including vehicle manufacturing, chemicals, machine building, measurement and medical technologies, as well as business oriented services. Moreover, in relation to its important trading partners, Germany has a unique production portfolio. Although Germany's dependence on exports and specialization in the production of capital equipment has led to a sharp decline in demand in the current crisis, the country's orientation in R&D intensive technology represents a strong foundation for renewed growth as soon as the global economic climate improves. However, continued business investment in R&D during the recession is necessary if Germany hopes to emerge the crisis on sound footing-even if such investment does not generate revenues over the near term.
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Bibliographic InfoArticle provided by DIW Berlin, German Institute for Economic Research in its journal Weekly Report.
Volume (Year): 5 (2009)
Issue (Month): 16 ()
Industrial specialization; Technological change;
Find related papers by JEL classification:
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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- Konon, Alexander, 2012. "Direct and Indirect Crisis Effects on International Trade or: Is There a Chance to Employ an Income Stimulus to Stimulate Exports?," MPRA Paper 36363, University Library of Munich, Germany.
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