Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/104541 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Working Paper No. 44/2014
Verlag: 
Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE), Berlin
Zusammenfassung: 
This study on Germany examines the long-run changes between the financial and the non-financial sectors of the economy, and in particular the effects of these changes on the macroeconomic developments that have led or contributed to the financial crisis starting in 2007 and the Great Recession in 2008/09. The first part provides some descriptive statistics on real GDP growth, on the growth contributions of the main demand aggregates, and the financial balances of the macroeconomic sectors since the early 1980s, and it classifies the German type of development as 'export-led mercantilist'. The second part examines the effects of an increasing dominance of finance since the early/mid 1990s on income distribution, investment in capital stock, consumption and the current account in more detail. The third part links the longrun developments with the financial and economic crisis and examines the causes of the quick recovery in Germany.
Schlagwörter: 
current account imbalances
distribution of income
finance-dominated capitalism
financialisation
financial and economic crisis
Germany
Kaleckian distribution theory
trade balance
JEL: 
D31
D33
D43
E25
E61
E63
E64
E65
F40
F43
Dokumentart: 
Working Paper

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