Search results for ""Author Hans-Werner Sinn""

The German state banks - or Landesbanks - are not only some of the largest banks in Germany but are also a dominant force in the international banking sector. These state-owned banks enjoy special privileges and government support which have made them major players in the global arena of banking and finance.Protected by the German taxpayer's seemingly bottomless pockets in the form of state warranties, Landesbanks are able to take part in financing some of the largest projects in the world. They occupy nearly fifty per cent of the top places in both Moody's and Standard and Poor's international rankings. Professor Sinn critically scrutinizes the privileges of the German Landesbanks and questions the justification of government intervention in the banking sector. He predicts that European integration and the introduction of the euro will lead to a fierce take-over battle between Europe's banks. He argues that, given the state warranties, it seems likely that the German Landesbanks will be among the winners in this battle and concludes that the German public banking system has grown far larger than is appropriate for a market economy.This timely book addresses issues of concern for European bankers and policymakers alike. It will also be of interest to students and scholars of financial economics, European integration and money and banking.

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Competition between companies tends to be beneficial for the general public, but is this also true for competition between States in a world with global financial markets, low transport costs, and increasing migration? In this book, Sinn provides a solid economic analysis of the competitive forces at work and addresses how we should organize competition between systems so they will enhance the efficiency of these systems, as opposed to acting destructively on them. Provides a thorough economic analysis of the competitive forces at work between nations and governments. Analyzes a wide range of state activities, including taxation, public goods provision, income redistribution, environmental policy, safety standards, and competition policy. Addresses ways to organize competition so it will enhance the efficiency of these systems.

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In the 1990s, labour productivity growth accelerated in the United States, yet slowed down in other industrialised countries, reversing a three decade long tendency of convergence. The book explores this phenomenon. It first identifies the methodological and statistical problems involved in measuring productivity and making cross-country comparisons in this area. Then the role of factor accumulation for the diverging trends across the OECD world, with a particular focus on the dispersion of information and communication technology (ICT), is reviewed. In-depth studies of single countries provide further insights regarding growth trends in the United States, Japan, Germany, and France. Finally, empirical investigations regarding the determinants of productivity growth at an international level complement the analyses. The results stress that public infrastructure and education, employment rates and working hours, and ICT spending play an important role in explaining the existing differences in levels and changes of productivity. This comprehensive book, on recent research regarding international gaps in productivity growth, will be of great interest to policy advisors and academics, political decision-makers and students of economics, business administration, international business and international policy.

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Redesigning the Welfare State argues that the current high level of unemployment in Germany not only creates a major challenge for the German welfare state, but is to a good extent caused by the way the country's welfare system is designed. The authors review the public debate on labour market reforms, which has been ongoing since 2002, and discuss the first set of reforms that have been enacted since then. As the reforms carried out so far fall short of what is actually needed to increase employment and economic growth in the Eurozone's largest economy, the authors introduce a proposal for a more fundamental redesign of the German welfare state. With comparative discussions of important elements of recent labour market reforms in the US, the UK and the rest of Europe, this book will appeal to all labour market researchers, and to those with an interest in applied work and policy advising in Germany. It will also appeal to decision makers and experts at international organisations and think tanks with a specialisation on Europe and Germany.

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