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Understanding West German economic growth in the 1950s

Author

Listed:
  • Barry Eichengreen

    (Department of Economics, University of California, Berkeley, CA, USA)

  • Albrecht Ritschl

    (Department of Economic History, London School of Economics, London, UK)

Abstract

We evaluate explanations for why Germany grew so quickly in the 1950s. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the postwar shock. We show that this shock and its consequences were more important than neoclassical convergence and structural change in explaining the rapid growth of the West German economy in the 1950s. We find little support for the hypothesis of institutional shakeup. This suggests a different interpretation of post-World War II German economic growth than features in much of the literature.

Suggested Citation

  • Barry Eichengreen & Albrecht Ritschl, 2009. "Understanding West German economic growth in the 1950s," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 3(3), pages 191-219, October.
    • Handle: RePEc:afc:cliome:v:3:y:2009:i:3:p:191-219
    DOI: 10.1007/s11698-008-0035-7
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    Cited by:

    1. Arnaud Chevalier & Benjamin Elsner & Andreas Lichter & Nico Pestel, 2018. "Immigrant Voters, Taxation and the Size of the Welfare State," SOEPpapers on Multidisciplinary Panel Data Research 994, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. Kilian Huber, 2021. "Are Bigger Banks Better? Firm-Level Evidence from Germany," Journal of Political Economy, University of Chicago Press, vol. 129(7), pages 2023-2066.
    3. Braun, Sebastian & Kvasnicka, Michael, 2014. "Immigration and structural change: Evidence from post-war Germany," Journal of International Economics, Elsevier, vol. 93(2), pages 253-269.
    4. Bengtsson, Erik & Stockhammer, Engelbert, 2018. "Wages, income distribution and economic growth in Scandinavia," Lund Papers in Economic History 179, Lund University, Department of Economic History.
    5. Focacci, Chiara Natalie & Perez, Carlota, 2022. "The importance of education and training policies in supporting technological revolutions: A comparative and historical analysis of UK, US, Germany, and Sweden (1830–1970)," Technology in Society, Elsevier, vol. 70(C).
    6. Feld, Lars P. & Nientiedt, Daniel, 2023. "Examining the ordoliberal tradition in classical liberal thought," Freiburg Discussion Papers on Constitutional Economics 23/5, Walter Eucken Institut e.V..
    7. Joop Adema & Lasha Chargaziia & Yvonne Giesing & Sarah Necker & Panu Poutvaara, 2025. "What Drives Refugees’ Return After Conflict?," RFBerlin Discussion Paper Series 2565, ROCKWOOL Foundation Berlin (RFBerlin).
    8. Myszczyszyn Janusz, 2021. "Development of Transport as a Factor of the Economic Miracle (Wirtschaftswunder) of West Germany," Studia Historiae Oeconomicae, Sciendo, vol. 39(1), pages 189-215, December.
    9. repec:osf:osfxxx:bs3w5_v1 is not listed on IDEAS
    10. Sebastian Braun & Michael Kvasnicka, 2012. "Immigration and Structural Change – Evidence from Post-war Germany," Ruhr Economic Papers 0345, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    11. Charlotte Bartels & Simon Jäger & Natalie Obergruber, 2024. "Long-Term Effects of Equal Sharing: Evidence from Inheritance Rules for Land," The Economic Journal, Royal Economic Society, vol. 134(664), pages 3137-3172.
    12. Gregori Galofré-Vilà & Christopher M Meissner & Martin McKee & David Stuckler, 2019. "The economic consequences of the 1953 London Debt Agreement," European Review of Economic History, European Historical Economics Society, vol. 23(1), pages 1-29.
    13. Alexiou, Constantinos, 2022. "Evaluating the falling rate of profit in the context of the UK economy," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 84-94.
    14. repec:rnp:ecopol:ep1460 is not listed on IDEAS
    15. Braun, Sebastian Till & Weber, Henning, 2021. "How do regional labor markets adjust to immigration? A dynamic analysis for post-war Germany," Journal of International Economics, Elsevier, vol. 129(C).
    16. Feld, Lars P. & Köhler, Ekkehard A. & Nientiedt, Daniel, 2021. "The German Anti-Keynes? On Walter Eucken’S Macroeconomics," Journal of the History of Economic Thought, Cambridge University Press, vol. 43(4), pages 548-563, December.
    17. Cubel Montesinos, Antonio & Solaz, Marta & Sanchís Llopis, M. Teresa, 2025. "The making of a World Trade Network of capital goods after the SecondWorld War. Reversal of fortune?," IFCS - Working Papers in Economic History.WH 48102, Universidad Carlos III de Madrid. Instituto Figuerola.
    18. Duarte Pablo, 2018. "Monetary Policy, Privileges and Economic Development: Ordoliberal Lessons for the EMU," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 69(1), pages 135-152, July.
    19. Madsen, Jakob B., 2010. "Growth and capital deepening since 1870: Is it all technological progress?," Journal of Macroeconomics, Elsevier, vol. 32(2), pages 641-656, June.
    20. repec:rnp:ecopol:ep1450 is not listed on IDEAS
    21. Huber, Kilian Maria, 2020. "Are bigger banks better? Firm-level evidence from Germany," LSE Research Online Documents on Economics 121861, London School of Economics and Political Science, LSE Library.

    More about this item

    Keywords

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    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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