Introduction

Abstract

Switzerland’s economic performance has been outstanding in many respects. A high standard of living, low rates of inflation and unemployment, and a high degree of stability are among the most notable aspects of this small country. In the 1990s, however, the picture has been less rosy: Switzerland has experienced one of the lowest GDP growth rates and among the highest increases in unemployment and government budget deficits among OECD countries. These developments, combined with the many changes in the world economy and the process of integration within the European Union (EU), have created an urgent need for restructuring and for policy reform.

We would like to thank all participants to the conference for their contribution. We are also grateful to John Evans-Klock, Markus Meister and Rolf Zimmermann for helping us in preparing the manuscript.