Investition in die Zukunft? Zur Entwicklung des deutschen Auslandsvermögens
Erik Klär (),
Fabian Lindner and
Wirtschaftsdienst, 2013, vol. 93, issue 3, 189-197
Germany’s substantial current account surpluses are an ongoing subject of debate, both at the domestic and the European/ global level. Advocates of high surpluses emphasise the need to accumulate foreign wealth in order to finance future investment and consumption expenditures of an ageing population. This contribution gauges the profitability of Germany’s foreign wealth. It identifies large valuation losses to the tune of half a trillion euros in recent years as well as a persistently adverse trend in previous decades. This unfavourable development as well as historically low refinancing costs point to the comparatively greater benefits of a domestic investment offensive aiming to equip Germany for central long-term challenges. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013
Keywords: F21; F31; F32 (search for similar items in EconPapers)
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