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[Which Industries Are Economically Relevant to the System?]
Christian Schneemann1, Enzo Weber1, Marc Ingo Wolter2
1Forschungsbereich A1, Inst. f. Arbeitsmarkt- und Berufsforschung, Regensburger Str. 100, 90478 Nürnberg, Deutschland.
Wirtschaftsdienst (Hamburg, Germany : 1949)
|October 21, 2020
Summary
The COVID-19 pandemic highlighted critical industries vital to the national economy. Disruptions in these key sectors significantly impact supply chains, demand, and overall economic stability.
Area of Science:
- Economics
- Supply Chain Management
- Pandemic Response
Context:
- The COVID-19 pandemic triggered widespread economic shutdowns, necessitating an evaluation of industrial importance.
- Understanding inter-industry dependencies is crucial for economic resilience during crises.
- National economies face unprecedented challenges due to global supply chain vulnerabilities.
Purpose:
- To identify industries critical to the national economy based on supply chain linkages.
- To analyze the cascading effects of production losses in key sectors.
- To quantify the economic impact of industrial disruptions beyond direct supply chain effects.
Summary:
- This report identifies industries with significant economic linkages through supply chains.
- Production stoppages in these sectors cause substantial demand losses and delivery disruptions in others.
- The analysis incorporates income loss, consumption, and investment decision impacts.
Impact:
- Provides a framework for understanding economic vulnerabilities during crises.
- Informs policy decisions for industrial support and supply chain resilience.
- Highlights the interconnectedness of national economies and the importance of critical industries.
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