Eurotrends
Article Abstract:
Consumer saving can have as much impact on economic growth as consumer spending. In European Community (EC) countries, savings held by consumers help to offset the gap between the savings generated by businesses and the budget deficits or surpluses registered by governments. In 1990, the average government deficit of EC countries stood at 3% of GDP, while EC businesses saved around 14% of total profits. Household savings in EC member states typically reflect the savings levels of the state and enterprise sectors. In Italy, for example, high household savings help to compensate for large government budget deficits. In Spain, on the other hand, government budget surpluses help to compensate for the relatively low household savings rate. However, the balance between savings and government expenditure does not always even out, particularly when high levels of business debt are posted.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1992
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Eurotrends
Article Abstract:
The service sector in the European Community already accounts for 60%-70% of gross domestic product, and employs more than 50% of the labor force. The 'de-industrialization' trend was given attention when manufacturing employment showed a 2% annual decline between 1974 and 1984. This was somewhat worrisome given the view that only the industrial sector can reduce unemployment while raising productivity concurrently. The service sector on the other hand, has had difficulty absorbing workers moving out of industry, much less maintaining output per head during the influx. Some say that information technology may yet accomplish this feat, traditionally the role of manufacturing. Deregulation and privatization will play a large role in this process. Industrial pursuits will inevitably become the province of developing economies, but questions of absorptive capacity remain unanswered.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1992
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Europe's young venture capital industry is hedging its bets in the recession
Article Abstract:
Europe's venture capital industry appears to be largely unaffected by the current recession. The European Venture Capital Assn reports that net investments have been increasing annually since 1987 by an average of 24%. In 1992, net investments rose by 12% to 4.6 billi on European currency unit (Ecu) while the portfolio was placed at Ecu18.4 billion. During the same year, the UK posted the highest total of funds raised (Ecu1.3 billion) though new funding declined considerably. The UK was followed by France (Ecu1.2 billion), Germany (Ecu831 million) and Italy (Ecu224 million). The UK is expected to maintain its number one position as a source of venture capital, although it may eventually be outperformed by Germany and Italy in terms of funds invested.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1992
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