2002 OECD Economic Surveys: Germany 2002

image of OECD Economic Surveys: Germany 2002

This 2002 edition of OECD's periodic review of Germany's economy examines recent economic developments, policies and prospects and includes a special feature on public sector spending reform.

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Assessment and Recommendations

While in the beginning of the 1990s economic growth in Germany was stronger than in most other OECD countries on account of the unification boom, growth has faded since then. This reflects in part imbalances in labour markets and in the construction sector that themselves arose from unification, as well as a variety of adverse external shocks. But the difficult adjustment process and the prolonged weakness of domestic demand also point to the need to overcome structural rigidities that impair the resilience of the economy and in particular to strengthen its capacity...

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