Unless otherwise defined, this refers to an economy with – only a less flexible labor market, – less competition on goods markets, – considerable barriers to market entry for new companies and – a less developed capital market. – In such economies, the investment ratio is lower, and thus productivity and consequently growth are also generally lower. – See ICT-using industries, KLEMS database, wage rigidities, productivity, structural transformation, structural change. – Cf. ECB Monthly Bulletin of January 2008, pp. 68 et seq. (detailed presentation; many overviews; implications for monetary policy), pp. 88 et seq. (informative overviews), Deutsche Bundesbank Monthly Bulletin of January 2014, pp. 21 et seq.; pp. 41 et seq. (rigidities in the euro area).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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