Germany remains Europe's largest and most diversified source of new technology, but still lags in the fastest growing … had supported Germany's leadership in the high-tech industries of the early twentieth century - automobiles, machinery … to new technological stimuli. In addition, Germany's bank-centered capital and inflexible labor markets have long …

models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial … markets with bank-based financial markets as in Germany and Japan being possibly inferior to stockmarket based financial …