German Unification and the International Economy

The 1990s have already witnessed major changes to the international macroeconomy. The savings of the world's two major creditor nations Japan and Germany are likely to shrink further while investment demand rises dramatically, particularly in Eastern Europe. The resulting global investment flows will have profound macroeconomic and growth effects, including the impact on the potential for higher real interest rates and resource shifts. Germany has been uniquely involved in these changes, and its experience is important both in its own right and in its wider applications for the further integration of Eastern and Western Europe.German Unification and the International Economyexamines these issues with Germany as its focus. A group of leading economists from the five German Economic Institutes and leading economists on North America provide a comprehensive analysis of the process of German reunification why it took shape as it did and why it happened with such speed. They explorethe case of Germany, the impact upon the rest of Europe, and the spillover for the international macroeconomy.