Structural change is both a challenge and an opportunity for countries and companies. However, there is no silver bullet in terms of superior economic models. Instead, different economic models can deal with structural change in a successful way. Both economies with a focus on services and those with a high share of manufacturing are able to achieve a high degree of economic growth and prosperity. Success factors are related to a solid performance with regard to the key drivers of structural change: globalisation, interconnectedness, innovation and knowledge as well as the economic framework. Economic policy – also at the EU level – should support companies and economies in reaping these potential benefits: fostering open and flexible markets as well as supporting European value chains and an intensification of knowledge in the production of goods and services are key success factors in this respect.
Henry Goecke / Christian Rusche IW-Trends No. 3 7. September 2021
A Coronavirus Shock for the Retail Sector in German City Centres
The Corona pandemic and the measures taken to contain the virus have delivered an asymmetrical shock to German business. This asymmetry is exemplified by the effects on the retail trade, an import ant part of the nation’s economy.
Michael Grömling in BSR Policy Briefing series External Publication 10. March 2021
The German Economy and the Corona Shock: An Acceleration of Structural Changes?
The Corona pandemic is a huge shock for the whole world both socially and economically. The supply side of the economy is impacted via disrupted value chains due to a lack of employees and supplies.
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