Germany has had an extremely low growth performance since 1995. The paper looks at the long-run reasons for this loss of economic dynamics besides German unification: These include leaving labor idle, a declining share of investment in GDP, a weaker innovative activity, an ineffective system for...

This paper analyzes China's economic performance in the last 25 years and discusses its prospect for growth in the future. China has enjoyed high annual GDP growth rates of about ten percent in the last 25 years. Exports and investment were the two driving forces of the growth process. FDI plays...

Rebuilding the capital stock will play the decisive role in the adjustment process in the eastern German economy. Investment increased from DM 92 billion in 1991 to 157 billion in 1994 (in current prices). It amounted to 60 percent of GDP. Investment has been heavily concentrated in buildings;...