Advanced Search
MyIDEAS: Login

The growth crisis of Germany: A blueprint of the developed economies

Contents:

Author Info

  • Berthold, Norbert
  • Gründler, Klaus
Registered author(s):

    Abstract

    Germany has experienced tremendous growth rates in the aftermath of World War II. Since the early 1970s, growth rates declined and settled down at a more or less constant rate of 2 percent per year, only to experience a renewed negative trend around the early 2000s. We investigate the evolution of the German growth rate and particularly aim to explain the last decline. Endogenous growth theory suggest that long-run growth is mainly driven by human capital and technological progress. Our 3SLS estimations in a panel of 187 countries between 1965 and 2010 support this hypothesis. As it turns out, human capital accumulation in Germany severely lags behind the average level of the developed countries. As this may explain the moderate position of Germany in the group of the 25 richest countries, the developed countries in turn experience a period of below-average growth rates. Regardless the financial crisis from the late 2000s, growth reveals a downward trend since the turn of the millennium in nearly each of the developed economies. We argue that this decline must be traced back to a general lack of radically new ideas in the world economy. The explanation of the German growth crisis may thus be considered a blueprint of the situation in the developed economies. --

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://econstor.eu/bitstream/10419/75278/1/74710204X.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik in its series Wirtschaftswissenschaftliche Beiträge with number 120.

    as in new window
    Length:
    Date of creation: 2013
    Date of revision:
    Handle: RePEc:zbw:wuewwb:120

    Contact details of provider:
    Postal: Sanderring 2, D-97070 Würzburg
    Phone: (0931) 31-2901
    Fax: (0931) 31-2101
    Email:
    Web page: http://www.vwl.uni-wuerzburg.de/lehrstuehle/vwl4/startseite/
    More information through EDIRC

    Related research

    Keywords: Economic Growth; Endogenous Theory; Germany; Technical Change;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Berthold, Norbert & Gründler, Klaus, 2013. "Dezentrale Wirtschaftspolitik in Europa: Basis einer stabilen Währungsunion," Wirtschaftswissenschaftliche Beiträge 121, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:zbw:wuewwb:120. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.