By Anja Hochberg, Jens Hölscher
The 1st publication within the reports in monetary Transition sequence applies the idea of monetary improvement to the economic climate of East Germany. 8 years after the unification of Germany, the e-book offers a finished and lots more and plenty wanted evaluation of the transition technique within the East, its impression at the German economic system as an entire and the $64000 broader classes for ecu integration and expansion. the original fiscal test of the unification of the German economies supplied a superb chance for various faculties of financial concept to be established and tested. The members to this e-book take complete good thing about this problem.
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Extra resources for East Germany's Economic Development: Domestic and Global Aspects (Studies in Economic Transition)
Example text
It is thus not surprising that, as an economic entity, the German economy now runs a deficit in its current account. It makes sense to interpret the persistent current account deficit in the German economy as the outside image of a far deeper internal problem which is likely to plague the German economy for very much longer than 16 From Miracle to Crisis? was generally expected shortly after 1990: the persistence of the economic divide between the former West Germany and the former East Germany. It is a gap that will dwarf all the regional gaps which were familiar in West Germany prior to unification.
Rather than achieving ‘self-sustaining’ economic growth, the East even today relies heavily on the help of its ‘big brother’. 1 Socialist Legacies The structural pattern of the GDR economy had developed as a result of the determination and control of economic activity by the plan that governed supply and demand at practically every level. 0%. Source: Deutsche Bundesbank and DIW. world market, and furthermore led to the development of a rather peculiar pattern of production. With the economic plan’s pure supply-side orientation and due to the lack of consumer’s ‘feed-back’ through the price mechanism, production in the GDR largely did not match demand, some products did not have any markets, whereas others suffered from poor quality.
Macmillan Press, London, St. Martin’s Press, New York, pp. 1–12. GERMAN COUNCIL OF ECONOMIC EXPERTS Facing Global Competition, Annual Report 1995/96. Short Version. Stuttgart, Metzler-Poeschel, 1995. GERMAN COUNCIL OF ECONOMIC EXPERTS Pushing Forward with Reforms, Annual Report 1996/97. Short Version. Stuttgart, Metzler-Poeschel, 1996. HÖLSCHER, J. Entwicklungsmodell Westdeutschland. Aspekte der Akkumulation in der Geldwirtschaft. Berlin, Duncker & Humblot, 1994. HÜTHER, M. Supply side Economics: The Approach of the German Council of Economic Experts.