Finance-dominated capitalism in Germany: Deep recession and quick recoveryDaniel Detzer and Eckhard Hein No 39/2014, IPE Working Papers from Berlin School of Economics and Law, Institute for International Political Economy (IPE) Abstract: Germany's recent export successes and the fast recovery from the 2007 -2009 crisis made it Europe's "economic superstar" in public opinion. This paper interprets the German performance against the background of financialisation. After an examination of the pre-crisis demand and growth regime, the focus is on how financialisation has contributed to the German 'export-led mercantilist' regime. The paper focuses subsequently on the determinants of the German current account balance, to then interpret the development of Germany during the financial and economic crisis and the causes for the quick recovery in light of the previous analysis. Keywords: current account imbalances; financialisation; financial and economic crisis; Germany; trade balance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:zbw:ipewps:392014 Access Statistics for this paper More papers in IPE Working Papers from Berlin School of Economics and Law, Institute for International Political Economy (IPE) Contact information at EDIRC. |
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