Helping the Austrian business sector to cope with new opportunities and challenges in Austria

Dennis Dlugosch, Michael Abendschein and Eun Jung Kim

No 1706, OECD Economics Department Working Papers from OECD Publishing

Abstract: The economic shock induced by the COVID-19 pandemic is accelerating structural changes and is posing new challenges. Austria faces wider growth opportunities and new adjustment challenges related notably to two major structural transformations: transition to carbonless growth and the generalisation of more advanced forms of digitalisation. These imply new entries and exits in the business sector, more capital and labour re-allocations and greater geographic mobility of labour. A better activation of the existing talent pool, in particular female, elderly and migrant workers is also needed to address the ageing of the society. In this context public policies should aim at further stimulating business dynamism by facilitating market entries; supporting firms’ capacity to invest by helping strengthen their balance sheets; better adapting skills to jobs for all categories of workers; and providing the right incentives to R&D to boost long-term innovation.

Keywords: investment; labour market; potential growth; skill shortages (search for similar items in EconPapers)
JEL-codes: E22 E24 J01 J21 J24 J26 O11 O12 O14 (search for similar items in EconPapers)
Date: 2022-04-06
New Economics Papers: this item is included in nep-lma and nep-mac
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1787/b5cd3c24-en (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oec:ecoaaa:1706-en

Access Statistics for this paper

More papers in OECD Economics Department Working Papers from OECD Publishing Contact information at EDIRC.
Bibliographic data for series maintained by ().