Abstract
European Steel Policies in the 1980s: Hindering Technological Innovation and Market Structure Change? — This paper examines the effects of the European Commission’s Manifest Crisis Policy of production quotas on the growth of European minimills during the 1980s. In particular, the study seeks to determine whether the Commission-approved secondary market for the quota rights created sufficient flexibility to ensure that low-cost suppliers increased production during this period of steel industry rationalization. The empirical results indicate that the policies did significantly hinder minimill growth during the quota period but did not prevent later minimill expansion.
Zusammenfassung
Die europäische Stahlpolitik in den 80er Jahren: Haben sie die technologische Innovation und den Wandel der Marktstruktur behindert? — Der Verfasser untersucht, wie sich die EU-Politik der Produktionsquoten in den 80er Jahren auf das Wachstum europäischer Kleinbetriebe im Stahlbereich ausgewirkt hat. Insbesondere versucht er herauszufinden, ob der von der EU-Kommission genehmigte Quotenhandel eine ausreichende Flexibilität schuf, um Anbietern mit niedrigen Kosten in Rationalisierungsphasen eine erhöhte Produktion zu ermöglichen. Die empirischen Ergebnisse zeigen, daß die Stahlpolitik der EU das Wachstum von Kleinbetrieben signifikant aufhielt, solange die Produktionsquoten galten, aber ihre spätere Expansion nicht verhinderte
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