Summary
Between 1964 and 1970 the domestic demand in Austria increased by 61 per cent, the imports (cif) increased by 91 per cent (both in nominal terms). A comparison of the 1964 and (preliminary) 1970 input-output tables (both divided into 31 industries) explains the faster growth of imports due to the following five types of changes in the economic structure: (i) Changes in the share of consumption, capital formation and exports in the total final demand; (ii) Changes in the pattern of final demand components; (iii) Changes in technology; (iv) Import-substitution in final demand; and (v) Import-substitution in intermediate demand. The first factor explains one fifth, the third factor one quarter, import substitution over one half of the differential increase in imports (with higher effect in the final demand). The impact of changes in the pattern of final demand components is close to zero because of the relative decrease in demand on imported agriculatural products and on coal on the one side and the almost equal increased demand on vehicles on the other. The study also contains information on the import content of final demand components for 1964 und 1970, on the marginal values of this indicator in nominal terms and an estimate of the import content in real terms (i.e. in prices of 1964). The increase in the imports was mainly due to the increase of competitive imports of manufacturing and was accompanied by a simultaneous increase in exports of the same industries. This is explained by the intensive integration of the Austrian economy into the international division of labour. In this process a part of the domestic market was seceded to the foreign competition while the free capital and labour was used for production of competitive goods for exports.
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Skolka, J. Importwachstum und Wirtschaftsstruktur. Empirica 2, 79–110 (1975). https://doi.org/10.1007/BF00924908
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DOI: https://doi.org/10.1007/BF00924908