IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-031-77193-4_2.html
   My bibliography  Save this book chapter

The German Balance of Payments from an Analytical Perspective – Milestones through History

In: Measuring International Economics

Author

Listed:
  • Axel Jochem

    (Deutsche Bundesbank)

  • Iris Nelißen

    (Deutsche Bundesbank)

Abstract

This article highlights key features of the German balance of payments over the past 100 years and analyses important causes of structural changes in its components. The underlying conditions of monetary and foreign exchange policy are among the significant determinants here. After the end of the Second World War, the experience gained during the period of the Weimar Republic with regard to external developments and their repercussions on the domestic economy strengthened interest in international cooperation on issues relating to the monetary system and the external sector. This environment favoured the economic development of the Federal Republic of Germany through the swift integration of its real and financial sectors into the global economy. Germany’s current account has been positive in most years since 1949 and has tended to record large surpluses since the start of the new millennium. The corresponding net capital exports have led to strong growth in Germany’s net international investment position. However, this development is not the only factor to have shaped Germany’s balance of payments in the new millennium. The financial account, in particular, has seen shifts in its composition, with TARGET balances in the Eurosystem reflecting developments in financial markets and monetary policy.

Suggested Citation

  • Axel Jochem & Iris Nelißen, 2025. "The German Balance of Payments from an Analytical Perspective – Milestones through History," Springer Books, in: Ursula Schipper & Robert Kirchner & Jens Walter (ed.), Measuring International Economics, pages 9-25, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-77193-4_2
    DOI: 10.1007/978-3-031-77193-4_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-031-77193-4_2. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.