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Reassessing the Wirtschaftswunder: Reconstruction and Postwar Growth in West Germany in an International Context

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  • Dumke, Rolf H
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    Abstract

    This paper presents a test of the reconstruction thesis, a paradigm of postwar growth in West Germany, to explain long run growth, 1950-80, in a sample of 16 rich OECD countries, in competition with the technology gap argument. The regression results suggest that both causes of growth contribute substantially to convergence growth in this sample. The notion of reconstruction growth--its definition, theory and length of operation--is critically discussed. It is suggested that the dynamics of reconstruction growth which result from the disproportionality between human and physical capital, caused by warindued shocks and destruction, may best be understood by appeal to the mechanics of the newer growth theories. Copyright 1990 by Blackwell Publishing Ltd

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    Bibliographic Info

    Article provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.

    Volume (Year): 52 (1990)
    Issue (Month): 4 (Special Issue, November)
    Pages: 451-91

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    Handle: RePEc:bla:obuest:v:52:y:1990:i:4:p:451-91

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    1. Blum, Matthias & Greasley, David & Hanley, Nicholas & Kunnas, Jan & McLaughlin, Eoin & Oxley, Les & Warde, Paul, 2014. "Empirical testing of genuine savings as an indicator of weak sustainability: a three-country analysis of long run trends," Stirling Economics Discussion Papers 2014-03, University of Stirling, Division of Economics.
    2. Bajo-Rubio, Oscar, 2012. "The balance-of-payments constraint on economic growth in a long-term perspective: Spain, 1850–2000," Explorations in Economic History, Elsevier, vol. 49(1), pages 105-117.
    3. Tarján, Tamás, 2011. "Egyenes vagy S alakú a Jánossy-féle trendvonal?. Hosszú távú egyensúlyi állapot Maddison adatai és az új növekedéselmélet tükrében
      [A simple or an S-shaped Jánossy trend?. A long-te
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 552-564.
    4. DeLong, J Bradford & Eichengreen, Barry, 1992. "The Marshall Plan: History's Most Successful Structural Adjustment Program," CEPR Discussion Papers 634, C.E.P.R. Discussion Papers.
    5. Sell, Friedrich L. & Reidelhuber, Martin, 2007. "Vertrauen und Sozialkapital an einer wirtschaftswissenschaftlichen Fakultät der Universität der Bundeswehr München und in Deutschland: Eine empirische Studie," Working Papers in Economics 2007,1, Universität der Bundeswehr München, Economic Research Group.
    6. Bernd Lucke, 2005. "Is Germany's GDP Trend-Stationary? A Measurement-With Theory Approach," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 225(1), pages 60-76, January.
    7. Smolny, Werner, 1999. "International Sectoral Spillovers: An Empirical Analysis for German and U.S. Industries," Journal of Macroeconomics, Elsevier, vol. 21(1), pages 135-154, January.

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