The Macroeconomics of Transformation: The Case of Eastern Germany

in German Politics and Society
Rüdiger PohlInstitute for Economic Research Halle, Germany

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The transformation process of eastern Germany began with the fall of the Berlin Wall on November 11, 1989. The time needed to formally replace the former socialist system with a market economy was short, not more than one year. But transformation should be defined in a broader sense and include the process of integrating the former socialist economies into the world markets and of establishing sustainable growth in that area. In that sense, the transformation of eastern Germany is far from finished (this is even more the case for central-eastern European economies).

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