In the past decade, Germany has been the world champion in exporting capital ("Exportweltmeister"). No other country … invested larger amounts of savings outside its borders. However, we find that Germany plays in the third division when it comes … for 13 advanced economies back to the 1970s. The data reveal that Germany's annual returns on foreign assets were 2 to 5 …

In the past decade, Germany has been the world champion in exporting capital (“Exportweltmeister”). No other country … invested larger amounts of savings outside its borders. However, we find that Germany plays in the third division when it comes … for 13 advanced economies back to the 1970s. The data reveal that Germany’s annual returns on foreign assets were 2 to 5 …