There is no doubt that during the periods of transition, management of firms faced great uncertainties about the future, and that it was extremely difficult to accurately predict which would be the growth industries in the coming years. However, during the era of high economic growth, the rapid expansion of the economy absorbed the negative impact arising from the structural adjustment of the industries.
The main difficulty that the current economy faces seems to lie not in the industrial restructuring itself, but in the fact that the current economic growth is not strong enough to provide a similar “shock absorber” effect. For this reason the implementation of structural policy, such as deregulation, has become an urgent issue.