Germany: adjustments of an export-led growth regime

Hassel, Anke and Di Carlo, Donato ORCID: 0000-0002-4406-7739 (2025) Germany: adjustments of an export-led growth regime. In: Growth Strategies and Welfare Reforms: How Nations Cope with Economic Transitions. Oxford University Press, pp. 48-84. ISBN 9780198947486

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Abstract

This chapter traces the evolution of Germany’s export-led growth regime across three distinct phases, focusing on the interplay between the growth regime and governments’ economic and social policy reforms. In the first phase (1990–2007), post-reunification challenges led to wage restraint, fiscal consolidation, and labor market dualization to restore competitiveness and strengthen exports. The second phase (2007–2019) saw a partial rebalancing, with labor market reregulation and moderate public investment addressing structural weaknesses. In the third phase (2020 onward), crises like COVID-19 and the energy shock prompted a shift toward interventionist industrial policy and Keynesian fiscal measures. These phases underscore how economic policies have evolved to sustain Germany’s export-driven model amidst shifting pressures and priorities.

Item Type:	Book Section
Additional Information:	© 2025 Oxford University Press
Divisions:	European Institute
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HV Social pathology. Social and public welfare. Criminology
Date Deposited:	09 Dec 2025 12:30
Last Modified:	11 Dec 2025 12:15
URI:	http://eprints.lse.ac.uk/id/eprint/130506

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