International effects of German unification |
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Authors: | Paul J J Welfens |
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Institution: | 1. American Institute for Contemporary German Studies, The Johns Hopkins University, Washington, D.C., USA 2. University of Duisburg, Germany
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Abstract: | The merger of the two German states brings together countries with divergent economic systems, different trade orientations
and a rift in terms of wealth. Transforming the East German system into a social market economy raises enormous internal and
external adjustment problems in a period in which West Germany already faces the challenges of the EC 1992 project and European
Monetary Union. German unification reinforces concentration tendencies and protectionist tendencies that will contribute to
imperfect competition processes in Europe and the global economy. |
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Keywords: | |
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