Dr. Lothar Krempel
The Development of International Tourism
International tourism is an important sector of the global economy which has been growing continuously for decades. Today, tourism services generate approximately ten percent of the world domestic product, making tourism economically more important than trade in crude oil, automobiles or telecommunications products. For nonindustrial countries in particular, the export of tourism services often constitutes a considerable asset in their balance of payments. Compared to other economic sectors, tourism also generates a large number of jobs. It is generally predicted that the tourism industry will continue to display strong growth. In the first phase of the project, the development of tourism and the extent and pattern of its internationalization will be examined. An analysis of global statistics and information regarding the development of international air traffic will make it possible to assess the importance of service exports for national balances of trade and to describe the economic features that distinguish tourism from other sectors. Project duration: October 2003 to September 2005.
From Network Governance to Market Governance? Capital Disentanglement in Germany (with Martin Höpner)
By using network visualization techniques, this project documents the process of capital disentanglement among the 100 largest German companies. The data is discussed historically to explore implications for the debate on national models of capitalism. Until the 1990s, the German company network was characterized by cross-shareholdings in the financial sector and hierarchical interlocking ownership among financial and industrial companies. In the context of economic internationalization and increasing importance of financially oriented management concepts, large banks are selling their industrial shareholdings. This implies a decrease in insider monitoring of industrial companies, which amounts to a major change in corporate governance in Germany. Project duration: January 2003 to December 2005.