This new publication analyses product markets in the EU. Its first issue explores the impact of the crisis on the EU economy, focusing on the effects of the crisis on sectoral structures and innovation and discussing temporary sectoral anti-crisis measures.
The report examines the microeconomic consequences of the crisis in order to better understand its macroeconomic impact and the drivers of recovery. Thereby, it provides a preliminary analysis of the potential effects of the crisis on the sectoral composition of the European economy. It furthermore examines the characteristics and potential outcomes of the sectoral measures introduced to assist those sectors most severely hit by the crisis, specifically the automotive industry. It also discusses the impact of the crisis on R&D and innovation development.
The crisis is compared to previous crises and is put into perspective by looking at the functioning of sectors prior to the crisis. The report thus highlights how the pre-crisis structural reform agenda remains relevant and has indeed even become more urgent than before.