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Understanding West German economic growth in the 1950s

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  • Eichengreen, Barry
  • Ritschl, Albrecht

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 post-war 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.

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  • Eichengreen, Barry & Ritschl, Albrecht, 2008. "Understanding West German economic growth in the 1950s," Economic History Working Papers 22304, London School of Economics and Political Science, Department of Economic History.
  • Handle: RePEc:ehl:wpaper:22304
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    6. 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.
    7. 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.
    8. 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).
    9. Eric Bengtsson & Engelbert Stockhammer, 2018. "Wages, income distribution and economic growth in Scandinavia," Working Papers PKWP1811, Post Keynesian Economics Society (PKES).
    10. 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..
    11. 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.
    12. 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.
    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. 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).
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    16. 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.
    17. Boldyrev, Roman (Болдырев, Роман) & Nevskiy, Sergei (Невский, Сергей), 2014. "Monetary reforms in post-war Germany (1948): preparation, conduct, outcome (conclusion) [Денежные Реформы В Послевоенной Германии (1948): Подготовка, Проведение, Итоги]," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 25-53, December.
    18. Boldyrev, Roman (Болдырев, Роман) & Nevskij, Sergei (Невский, Сергей), 2014. "Monetary reforms in post-war Germany (1948): preparation, holding, results [Денежные Реформы В Послевоенной Германии (1948): Подготовка, Проведение, Итоги]," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 38-65, October.

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    • N0 - Economic History - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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