Luxembourg: A Country Survey

peer reviewed ; Beginning in the 20th century, Luxembourg experienced several periods of transition. The largely agriculture-based economy became industrialized, driven by a powerful steel industry which remained the dominant sector from the immediate post-Second World War years to the mid-1970s. The country had a considerable competitive advantage in this respect owing to iron ore deposits in Luxembourg itself and in the neighbouring French region of Lorraine. The industrial flagship was Aciéries Réunies de Burbach-Eich-Dudelange (ARBED), founded in 1911, which developed its production in Eur... Mehr ...

Verfasser: Danescu, Elena
Dokumenttyp: book part
Erscheinungsdatum: 2019
Verlag/Hrsg.: Routledge
Schlagwörter: Luxembourg / Luxembourg Political System / Luxembourg Economy / Luxembourg International Financial Center / Chamber of Deputies / Xavier Bettel / Jacques Santer / Jean-Claude Jucnker / Pierre Werner / Luxembourg Social Policy / Contemporary History of Europe / ARBED / Business & economic sciences / International economics / Arts & humanities / History / Strategy & innovation / General economics & history of economic thought / Macroeconomics & monetary economics / Sciences économiques & de gestion / Economie internationale / Arts & sciences humaines / Histoire / Stratégie & innovation / Economie générale & histoire de la pensée économique / Macroéconomie & économie monétaire
Sprache: Englisch
Permalink: https://search.fid-benelux.de/Record/base-29108717
Datenquelle: BASE; Originalkatalog
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Link(s) : https://orbilu.uni.lu/handle/10993/43443

peer reviewed ; Beginning in the 20th century, Luxembourg experienced several periods of transition. The largely agriculture-based economy became industrialized, driven by a powerful steel industry which remained the dominant sector from the immediate post-Second World War years to the mid-1970s. The country had a considerable competitive advantage in this respect owing to iron ore deposits in Luxembourg itself and in the neighbouring French region of Lorraine. The industrial flagship was Aciéries Réunies de Burbach-Eich-Dudelange (ARBED), founded in 1911, which developed its production in Europe and established a global network of sales outlets. Between 1953 and 1968 the steel industry contributed approximately 25% of the country’s GDP growth, while steel production represented 50% of its added industrial value. Over the same period, the nominal wage grew by 29.3%. The improvement in living standards led to the emergence of the middle class and to an increase in urbanization. The Government improved the social security regime and extended it to all workers, thus helping to close the gap in social equality, raise living standards further and boost social cohesion in the country over the long term. ; Western Europe