The Resource Structural Change and the Current Account : The Case of Germany, Fabrizio Coricelli and Andreas Wörgötter, (electronic resource)

Structural Change and the Current Account : The Case of Germany, Fabrizio Coricelli and Andreas Wörgötter, (electronic resource)

Label
Structural Change and the Current Account : The Case of Germany
Title
Structural Change and the Current Account
Title remainder
The Case of Germany
Statement of responsibility
Fabrizio Coricelli and Andreas Wörgötter
Creator
Contributor
Subject
Language
eng
Summary
Using empirical evidence from panel analysis of current account dynamics and of bilateral trade balances, the paper argues that the large German current account surplus during the 2000s can be explained by an increasing gap between productivity growth in manufacturing vis-à-vis services. Such a gap is due not only to improvements in the manufacturing sector but also to a significant slowdown of productivity growth in services. Therefore, despite the success in export markets, the German surplus may signal long-run weaknesses associated with constraints on service sector productivity growth and the inability of productivity growth in manufacturing to create positive spill-over effects on services. Persistence of barriers to liberalisation in services as well as the dominant type of technological progress in manufacturing, based on improving the efficiency of existing products, may partly explain these phenomena. A key factor behind these sectoral differences is the education system, which relies on highly specialised vocational schools, generating high returns for on the job training and creating incentives for efficiency gains in existing products and sectors. The paper concludes that there is room for comprehensive structural policies consistent with an equilibrium reduction in the current account surplus, accompanied by higher and more balanced growth. This paper is a background document for the 2012 Economic Survey of Germany, www.oecd.org/eco/surveys/germany
Member of
Cataloging source
SFB
http://library.link/vocab/creatorName
Coricelli, Fabrizio
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Wörgötter, Andreas
Series statement
OECD Economics Department Working Papers,
Series volume
no.940
http://library.link/vocab/subjectName
  • Economics
  • Germany
Label
Structural Change and the Current Account : The Case of Germany, Fabrizio Coricelli and Andreas Wörgötter, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
778885410
Dimensions
cm.
Extent
1 online resource (30 pages)
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k9gsh6tpz0s-en
Specific material designation
remote
System control number
(OCoLC)778885410
Label
Structural Change and the Current Account : The Case of Germany, Fabrizio Coricelli and Andreas Wörgötter, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
778885410
Dimensions
cm.
Extent
1 online resource (30 pages)
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k9gsh6tpz0s-en
Specific material designation
remote
System control number
(OCoLC)778885410

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