The Impact of Systemic Transition on the European Community

Domenico Mario Nuti ()
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Domenico Mario Nuti: University of Rome

Chapter 21 in Collected Works of Domenico Mario Nuti, Volume II, 2023, pp 467-507 from Palgrave Macmillan

Abstract: Abstract The first, spectacular effect of the 1989 revolutions was the coming down of the Berlin Wall and the fast re-unification of Germany, first de facto in July 1990 with monetary unification, then de jure in October. German unification involved instant, automatic enlargement of the Community to include the ex-GDR (which already had a special de facto relation, with intra-German trade already being treated as internal trade). Initially German re-unification boosted demand, with West German GDP growth of 5.1% in 1990 and almost 6% in the last two quarters of 1990 and the first quarter of 1991. It is estimated that “the growth rates of the other Member States were raised on average by half a percentage point a year in both 1991 and 1992” (CEC 1993).

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-031-23167-4_21

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DOI: 10.1007/978-3-031-23167-4_21

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