European Industrial Restructuring in the 1990's

by Karel Cool (Editor)

During the second half of the 1980s, "Euro-pessimism" slowly started giving way to "Euro-optimism." Several years of uninterrupted economic growth, soaring stock markets and improving East-West relationships gave Europe the confidence that it might regain some of its lost economic power. In this optimistic environment, the 1992 initiative quickly gained momentum.
This book evaluates what has been accomplished and what the remaining key tasks are. The first section of the book, on European Industrial How Far Along?, takes stock of the ongoing restructuring and makes a comparison with restructuring activity in the United States and Japan. It also addresses the required restructuring of East Germany, following the 1989 revolution.
The second section, Restructuring Mechanisms, deals with various ways in which restructuring can take place (competition in either product or capital markets), evaluates their relative efficiency, and analyzes the appropriate public policy responses.
The third section, Managing the Restructuring Process, examines the managerial dimensions of the restructuring task. This includes the management of organizational transitions, mergers and acquisitions, and partnerships and alliances.
A final section, Industrial Restructuring and Technological Change, addresses the increasingly important role of R&D, product standardization and "open systems" alliances in international competition.

406 pages, Hardcover

First published January 1, 1992