Rate of Structural Change Determines Pace of Regional Recovery
Economic recovery is still mostly fueled by exports. Domestic demand as much as tourist travel continued to be subdued, a fallout from the general emphasis on budgetary consolidation in Europe. Exports to EU countries concentrated on primary products, and the level of integration in European supplier networks was the main factor to determine regional development. Demand for capital goods by Eastern and South-eastern European countries contributed to the positive momentum. Styria, Lower Austria, Carinthia and Upper Austria benefited most from this particular market constellation. Response by the labor market to the revival was very muted. In Lower Austria, Burgenland, Styria, Carinthia and Upper Austria, demand for workers grew, in Styria also in the future-oriented sectors. In Lower Austria, most of the impetus comes from a shift of service capacities from the central region of Vienna, while in Burgenland the greatly accelerated structural change has caused unemployment to grow at an equally rapid pace. In Western Austria, the development of tourism-based service industries was weak, as was the construction industry.
Fähigkeit zum Strukturwandel bestimmt regionales Konjunkturprofil. Die Wirtschaft in den Bundesländern 1997; Rate of Structural Change Determines Pace of Regional Recovery
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