Economic Revival of West Germany in the 1950s and 1960s From 1944 to 1946, output in what became West Germany fell at an annualized rate of 38 percent. 2009; We evaluate explanations for why Germany grew so quickly in the 1950s. remasculinization of West Germany as men's roles changed from POWs and soldiers to producers, providers, and fathers.6 This gendered understanding of West Germany's economic resurgence during the 1950s intersected, in fact, with the West Germans' sense of themselves and their nation as a whole. The Deutsche Bank, Germany's largest financial institution, played an important role in the expropriation of Jewish-owned enterprises during the Nazi dictatorship, both in the existing territories of Germany, and in the area seized by the German army during World War II. In-text: (Overview of all the FIFA World Cup host countries 1930-2022, n.d.) Talk:Post–World War II economic expansion. 21 June 2010. Four Decades of Market Economy in Germany (Cambridge, 1992), xi and passim. Overview of all the FIFA World Cup host countries 1930-2022 FIFA. Understanding West German Economic Growth in the 1950s 2008. I demonstrate that, for the core western industrialised nations, the rapidity and variety of economic growth during the 1950s and 1960s can mostly be explained by post-war reconstruction, the completion of which marked the end of the Golden Age. 1 As shown in figure 1, in 1946 Germany’s gross domestic product (GDP) per capita was only 34 percent of the UK’s and less than 65 percent of France’s.By 1959, Germany had caught up with France and, by … In the aftermath of World War II (WW2), West Germany experienced a historically remarkable acceleration in the pace of economic growth. "Understanding West German economic growth in the 1950s," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. Britain meanwhile, deemphasized heavy manufacturing as sectors like shipbuilding, steel and coal struggled with foreign competition and dysfunctional labor-management relations. Post–World War II economic expansion has been listed as a level-4 vital article in History. In addition to the common feature of 'catch-up', it is necessary to introduce German-specific factors in order to understand this period. It was only in the late 1980s that West Germany's economy finally began to grow more rapidly. … rebounded with a so-called “economic miracle” that began in 1948. Introduction There is no shortage of attempts to explain West Germany’s economic growth in the 1950s. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the postwar shock. Institutional change: the image. (with Barry Eichengreen): "Understanding West German Economic Growth in the 1950s," Cliometrica 3 (2009), 191-219. Understanding West German economic growth in the 1950s Authors. Barry Eichengreen & Albrecht Ritschl, 2009. 3, No. We show that this shock and its consequences were more important than neoclassical convergence and structural change in explaining the … ... Understanding West German economic growth in the 1950s. The Wirtschaftswunder (Economic Miracle), West Germany’s rapid economic growth following the Second World War, enjoys mythical status in German public memory and has proven to be an enduring aspect of the German political and cultural identity. We evaluate explanations for why Germany grew so quickly in the 1950s. This article has been rated as C-Class. Understanding West German Economic Growth in the 1950s About West German Economy, 1945-1955. Source: Understanding West German economic growth in the 1950s Hence, we can see that Germany and Japans economic recovery and growth saw many variable factors. 3, October 2009. 3(3), pages 191-219, October. 1. Understand that rule breaking comments get removed. Migration. (with Lars Boerner): "The Economic History of Sovereignty: Communal Responsibility, the Extended Family, and the Firm," Journal of Institutional and Theoretical Economics 165 (2009), 99-112. Labour-force expansion also made a very strong positive contribution. Understanding West German economic growth in the 1950s 2009 - Cliometrica. Barry and Ritschl argue that West Germany’s economic transformation from 1950 to 1959 was a miracle. We show that this shock and its consequences were more important than neoclassical convergence and structural change in explaining the … With good reason: between 1950 and 1959, GDP rose by nearly 8 per-cent per annum, faster than anywhere else in Europe and in stark contrast to experi-ence following World War I. more than half of German growth in the 1950s is not accounted for by investment and labour force growth. By 1950 West Germany had become the new home of 4.5 million Germans from the territory east of the Oder-Neisse line; 3.4 million ethnic Germans from Czechoslovakia, prewar Poland, and other eastern European countries; and 1.5 million from East Germany. Understanding West German Economic Growth in the 1950s1 Barry Eichengreen and Albrecht Ritschl Abstract We evaluate explanations for why Germany grew so quickly in the 1950s. “ Understanding West German Economic Growth in the 1950s.” Cliometrica 3 ( 3 ): 191 – 219 . ( link) The unemployment rate fell from 10.3% to 1.2%. The unemployment rate also fell to 7.6 percent in 1989, despite an influx of workers from abroad. Introduction. Website. Understanding West German Economic Growth in the 1950s SFB 649 Discussion Papers, Humboldt University, Collaborative Research Center 649 Also in Economic History Working Papers, London School of Economics and Political Science, Department of … Abstract. West Germany German refugees from the east in Berlin in 1945 The fundamental reason for the quick economic recovery of West Germany can be found in the ordoliberal growth model. Hansen, R. Migration to Europe since 1945: Its History and its Lessons N°113 Understanding West German Economic Growth in the 1950s Barry Eichengreen and Albrecht Ritschl; N°112 The U.S. Business Cycle, 1867-1995: Dynamic Factor Analysis vs. Reconstructed National Accounts Albrecht Ritschl, Samad Sarferaz and Martin Uebele; N°111 A Stakeholder Empire: The Political Economy of Spanish Imperial Rule in America Regina Grafe … Understanding West German Economic Growth in the 1950s ... change in explaining the rapid growth of the West German economy ... and economic event of … 10.1007/s11698-008-0035-7 CrossRef Google Scholar Eucken , Walter . This article is within the scope of WikiProject Economics, a collaborative effort to improve the coverage of Economics on Wikipedia. In the first English-language biography of one of the most important figures in postwar German history, Alfred C. Mierzejewski examines the life and service of Ludwig Erhard (1897-1977), West Germany's first minister of economics and second chancellor. In the post-war boom, strong economic growth was helped by high levels of migration The number of persons employed in West Germany rose from 13.8 million in 1950 to 19.8 million in 1960. West Germany had moved from being a large net debtor at the end of the war to a creditor by the middle of the 1950s (Buchheim 1988), although other factors too had played a role (Eichengreen and Ritschl 2009). Abstract: We evaluate explanations for why Germany grew so quickly in the 1950s. Then came the economic miracle of West Germany. From the German Economic Miracle to RAF Terrorism: Three German decenniums. Galofré-Vilà, G, M McKee, C M Meissner and D Stuckler (2016), “The Economic Consequences of the 1953 London Debt Agreement” NBER working paper 22557. 30 German years: 1950 – 1980. …recovery in the 1950s ( Wirtschaftswunder, or “economic miracle”) brought it into a leading position among the world’s economic powers, a position that it has maintained. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the post-war shock. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the postwar shock. An overview. economy of post-war Germany. Appears in Comparative Economic Studies (March 2011). Understanding West German economic growth in the 1950s. We show that this shock and its consequences were more important than neoclassical convergence and structural change in explaining the … End and new beginning: Nazi Germany surrenders unconditionally in May 1945. Barry Eichengreen; Albrecht Ritschl; Content type: Original Paper Published: 01 January 2009; Pages: 191 - 219; Modelling trends and cycles in economic time series: historical … Cliometrica 3:191-219. The GDP of West Germany increased steadily by 8% every year during the period. The sustained economic growth of West Germany emanated from pro-market reforms and socio-economic overhauls. If you can improve it, please do. By the end of World War II, the country's economic infrastructure was completely destroyed. West Germany embarked in its program of reconstruction with financial support provided by the Marshall Plan and, guided by the economic principles of the Minister of Economics Ludwig Erhard excelled in the economic miracle during the 1950s and 1960s. The subsequent combination of growth and stability made West Germany’s economic system one of the most respected in the world, though it began to suffer strains beginning in the 1990s, exacerbated by the costs of unification. Germany’s remarkable economic… …Germany became renowned for its Wirtschaftswunder, or “economic miracle.” Eichengreen, B and A Ritschl (2009), "Understanding West German economic growth in the 1950s." Olson’s ( 1982) institutional-change hypothesis posits a … We thank you for your interest in this question, and your patience in waiting for an in-depth and comprehensive answer to be written, which takes time. 6 Crafts, ‘Never had it so good’; Bean and Crafts, ‘British economic growth’ 7 The reconstruction thesis is attributed to Jánossy, ‘Economic miracle’. "27 Up: The Implications for China of Abandoning Its Dollar Peg," with Andrew Rose. West Germany had a skilled workforce and a high technological level in 1946, but its capital stock had largely been destroyed during and after the war. In the 1950s, German GDP grew at nearly 8% a year, the fastest growth rate in Europe (Eichengreen and Ritschl, 2008). Some similar factors like external support from the Allied Powers especially America played a vital role in the economic development of the two countries. Early scholarship has rooted the origins of this economic boom in the 1948 currency reform; foreign aid, chiefly … Erhard liberalized the German economy in 1948 and is generally considered the father of West … liberalized the German economy in 1948 and is generally considered the father of West Germany's "economic miracle--the period of extraordinary growth in jobs and improvement in the standard of living in the 1950s that helped stabilize Germany's first successful democracy. Understanding West German Economic Growth in the 1950s. We show that this shock and its consequences were more important than neoclassical convergence and structural change in … Cliometrica, Vol. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the post-war shock. This concise overview of the German 'Economic Miracle' of the post-World War Two reconstruction years argues that the German ecoonomy was in a far healthier position at the end of the war than previously thought, and that the preconditions for growth - Understanding West German Economic Growth in the 1950s 1. "Understanding West German economic growth in the 1950s," with Albrecht Ritschl. For older versions of a similar position, see Egon Sohmen, "Competition and Growth: The Lessons of West Germany," American Economic Review 44, (1959): 986-1003; and F. Janossy, The End of the Economic Miracle (New York, 1971). Abstract. Ritschl, Albrecht. In the wake of the Journal. Dowrick and Nguyen come to a very similar conclusion: Germany's per capita What caused the economic miracle of West Germany has been a topic for hot debate. During the 1950s and 1960s low unemployment was reconciled with stable inflation through the exercise of wage restraint. We evaluate explanations for why Germany grew so quickly in the 1950s. Up until 1973, the faster rate of economic growth in West Germany can partly be attributed to the ‘catch up effect’ as Germany was starting from a lower point of GDP. High capital investment. The presence of these refugees put a heavy social burden on West Germany, but their assimilation proved surprisingly … Cliometrica, 3(3), pp.191-219. In-text: (Eichengreen and Ritschl, 2008) Your Bibliography: Eichengreen, B. and Ritschl, A., 2008. We evaluate explanations for why Germany grew so quickly in the 1950s. The growth rate for West German GDP rose to 3.7 percent in 1988 and 3.6 percent in 1989, the highest levels of the decade. 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