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Global Economic Crisis and German Economic and Social Policy against the crisis

Eoh, Kiy Ku 1

1한국노총중앙연구원

Accredited

ABSTRACT

Amidst facing global financial economic crisis from U.S, this study aims to see economic and social policy countermeasure of Germany dependant upon export for its economic growth as much as the Korean economy is. As expected, since the World War Ⅱ, Germany is confronting with ever most serious difficulties including the rapid reduction of volumes of its domestic and foreign orders received and production, which cause unemployment in the labor market. Nonetheless, social partners including labor, management and the government of Germany prepared an anti-crisis program with 100 billion euro against 2% of GDP, and this explains that Germany is striving hard to ensure its existence in the international community through this opportunity by more strengthening the potential growth, social security net and national employment system than trying to merely get over the current crisis. As a result of this study, it is remarkable to see that while the economic crisis, Germany focuses the role of social security net and objectives of the economic stimulus program more on the support for SMEs which are the biggest victims of the economic crisis and the protection of people. And another remarkable point to see is that various stakeholders including labor, management and the government participate and maximize execution power of policies in the process of making the economic stimulus programs.

Citation status

* References for papers published after 2022 are currently being built.