Economic dynamism is the rate and direction of change in an economy. This can include activities like the rate of new business formation, the frequency of labor market turnover, and the geographic mobility of the workforce. Economists disagree on the usefulness of the term, with some calling it too ambiguous, and with others calling it useful to understand the degree of churn in the economy. Proponents of the term note that it can describe an economy's ability to adapt to changing circumstances, such as changing consumer demands or the availability of resources. Some experts correlate economic dynamism with the rate of business start-ups. Rates of consumers changing banking or telecommunications service providers, especially as limited by switching barriers, have been cited as a major influence on economic dynamism.
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👉 Economic dynamism in the context of Rouen
Rouen (UK: /ˈruːɒ̃, ˈruːɒn/, US: /ruːˈɒ̃, ruːˈɒn/; French: [ʁwɑ̃] or [ʁu.ɑ̃]) is a city on the River Seine, in northwestern France. It is in the prefecture of region of Normandy and the department of Seine-Maritime. Formerly one of the largest and most prosperous cities of medieval Europe, the population of the metropolitan area (French: aire d'attraction) is 702,945 (2018). People from Rouen are known as Rouennais.
Rouen was the seat of the Exchequer of Normandy during the Middle Ages. It was one of the capitals of the Anglo-Norman and Angevin dynasties, which ruled both England and large parts of modern France from the 11th to the 15th centuries. From the 13th century onwards, the city experienced a remarkable economic boom, thanks in particular to the development of textile factories and river trade. Claimed by both the French and the English during the Hundred Years' War, it was on its soil that Joan of Arc was tried and burned alive on 30 May 1431. Severely damaged by the wave of bombing in 1944, it nevertheless regained its economic dynamism in the post-war period thanks to its industrial sites and its large seaport, which merged with the ports of Le Havre and Paris in 2021 to form the HAROPA Port.