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The stagflation crisis and the European automotive industry, 1973–85

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  • Jordi Catalan Vidal

Abstract

The success in coping with the stagflation crisis depended on two groups of factors. On the one hand, survival depended on assemblers’ strategies to promote economies of scale and scope, process and product innovation, related diversification, internationalisation and, sometimes, changes of ownership. On the other, firms benefitted from long-term path-dependent growth in their countries of origin’s industrial systems. Indeed, the main winners of the period, Toyota and Volkswagen, can rightly be seen as outstanding examples of Confucian and Rhine capitalism. However, since then, global convergence with Anglo-Saxon capitalism may have eroded some of the institutional bases of their strength.

Suggested Citation

  • Jordi Catalan Vidal, 2017. "The stagflation crisis and the European automotive industry, 1973–85," Business History, Taylor & Francis Journals, vol. 59(1), pages 4-34, January.
    • Handle: RePEc:taf:bushst:v:59:y:2017:i:1:p:4-34
    DOI: 10.1080/00076791.2016.1237505
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    References listed on IDEAS

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    1. Hubert Bonin & Yannick Lung & Steven Tolliday, 2003. "Ford, 1903-2003: The European History," Post-Print hal-00154740, HAL.
    2. Wolfe, Joel, 2010. "Autos and Progress: The Brazilian Search for Modernity," OUP Catalogue, Oxford University Press, number 9780195174564.
    3. Freeman, Chris & Louca, Francisco, 2002. "As Time Goes By: From the Industrial Revolutions to the Information Revolution," OUP Catalogue, Oxford University Press, number 9780199251056.
    4. Fujimoto, Takahiro, 1999. "The Evolution of Manufacturing Systems at Toyota," OUP Catalogue, Oxford University Press, number 9780195123203.
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    1. Chiara N Focacci & Vassil Kirov, 2021. "Regional entrepreneurial ecosystems: Technological transformation, digitalisation and the longer term—The automotive and ICT sectors in the UK and Bulgaria," Local Economy, London South Bank University, vol. 36(1), pages 56-74, February.

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