Economic Crisis and Consequences for the Transport Sector

Werner Rothengatter ()
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Werner Rothengatter: Karlsruhe Institute of Technology

Chapter Chapter 2 in Transport Moving to Climate Intelligence, 2011, pp 9-28 from Springer

Abstract: Abstract The World economy has experienced the most severe economic crisis in 2007/2008 since 1929. Although the crisis started in the financial sector it has become obvious that the globalization bubble has increased the severeness of the economic downturn. As globalization is stimulating international trade, and trade is feeding the transport sector, it is natural that the sector of freight transport and logistics has been affected badly. But a deep crisis also has positive long-term effects: It helps to change routines of the economic agents such that they become more open for applying innovations and long-term challenges (“Schumpeter hypothesis”). This will induce structural changes in the economy, which may also change the patterns of freight transport and logistics. In the paper, a Schumpeter Scenario is developed to study the potential change of economic structures and the impacts on the transport markets, nationally and worldwide. There may be a chance by former transport sector to change to a more sustainable trajectory earlier than expected in the trend scenarios, if new technologies will become more compatible with the long-term issues of energy and CO2 saving.

Keywords: Credit Default Swap; Transport Sector; Road Transport; Base Scenario; Mortgage Loan (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:trachp:978-1-4419-7643-7_2

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DOI: 10.1007/978-1-4419-7643-7_2

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