Journal articles: 'Credit – Germany'

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Logemann, Jan. "Americanization through Credit? Consumer Credit in Germany, 1860s–1960s." Business History Review 85, no. 3 (2011): 529–50. http://dx.doi.org/10.1017/s0007680511000791.

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This study of the American impact on German consumer credit reveals that the notion of post–World War II Americanization emerging through credit-induced consumption is more complicated than has been previously acknowledged. The postwar debate in Germany over consumer credit as an American import had antecedents in a longer, previously overlooked, history of consumer credit. Moreover, the concept of Americanization remains misleading from a comparative perspective: First, examples of indigenous German institutional consumer lending predate the postwar period. Second, differences in both the forms and quantitative weight of consumer lending defy the notion of convergence. Third, different social and political contexts prevented a wholesale adoption in Germany of an American model of credit financing, despite repeated transatlantic transfers.

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Hiltrud, Nehls,, and Schmidt, Torsten. "Credit Crunch in Germany?" Credit and Capital Markets - Kredit und Kapital 37, no. 4 (April 1, 2004): 479–99. http://dx.doi.org/10.3790/ccm.37.4.479.

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Klimiuk, Zbigniew. "Stosunki gospodarcze i handlowe ZSRR – Niemcy w latach 1918–1940 (część 2)." Przegląd Wschodnioeuropejski 9, no. 2 (November 30, 2019): 27–39. http://dx.doi.org/10.31648/pw.2999.

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The author analyzes in his paper the economic and trade relations between Germany and the Soviet Union in the period of 1918–1944. During this period trade relations with Germany constituted a continuation of relations between Tsarist Russia and Germany before World War I. The German-Soviet Economic Agreement of October 12, 1925, formed special conditions for the mutual trade relations between the two countries. In addition to the normal exchange of goods, German exports to the Soviet Union were based, from the very beginning, on a system negotiated by the Soviet Trade Mission in Berlin under which the Soviet Union was granted loans for financing additional orders from Germany. Trade with the Soviet Union, promoted by the first credit-based operations, led to a dynamic exchange of goods, which reached its highest point in 1931. In the early 1930s, however, Soviet imports decreased as the regime asserted power and its weakened adherence to the disarmament requirements of the Treaty of Versailles decreased Germany’s reliance on Soviet imports. In addition, the Nazi Party’s rise to power increased tensions between Germany and the Soviet Union. In the mid-1930s, the Soviet Union made repeated efforts at reestablishing closer contacts with Germany. The Soviets chiefly sought to repay, with raw materials the debts which arose from earlier trade exchange, while Germany sought to rearm, therefore both countries signed a credit agreement in 1935. That agreement placed at the disposal of the Soviet Union until June 30, 1937 the loans amounting to 200 million Reichsmarks which were to be repaid in the period 1940–1943. The Soviet Union used 183 million Reichsmarks from this credit. The preceding credit operations were, in principle, liquidated. Economic reconciliation was hampered by political tensions after the Anschluss in the mid-1938 and Hitler’s increasing hesitance to deal with the Soviet Union. However, a new period in the development of Soviet-German economic relations began after the Ribbetrop–Molotov Agreement, which was concluded in August of 1939.

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Eickmeier, Sandra, Andreas Worms, and Boris Hofmann. "Macroeconomic Fluctuations and Bank Lending: Evidence for Germany and the Euro Area." German Economic Review 10, no. 2 (May 1, 2009): 193–223. http://dx.doi.org/10.1111/j.1468-0475.2008.00455.x.

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Abstract This paper analyzes the dynamic response of loans to the private sector and of economic activity to aggregate supply, demand and monetary policy shocks in Germany and the euro area based on a standard macroeconomic VAR using sign restrictions to identify the structural shocks. The main results of this analysis are that (i) with the exception of the response to the supply shock in Germany, the response of loans to the three macroeconomic shocks is rather weak and in most cases insignificant; (ii) the 2000-05 credit slowdown and weak economic performance in Germany were primarily driven by adverse supply shocks; and (iii) the marked slowdown in credit creation in Germany over this period actually represents a realignment of the outstanding stock of loans with its deterministic level. In order to assess the role of bank lending in the transmission of macroeconomic shocks, we further perform counterfactual simulations and analyze the dynamic responses of German loan subaggregates in order to test the distributional implications of potential credit market frictions. These exercises do not indicate that credit market frictions play an amplifying role in the transmission of macroeconomic fluctuations.

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Klimiuk, Zbigniew. "Stosunki gospodarcze i handlowe ZSRR – Niemcy w latach 1918–1940 (część 1)." Przegląd Wschodnioeuropejski 9, no. 1 (June 1, 2018): 49–64. http://dx.doi.org/10.31648/pw.3364.

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The author analyzes in his paper the economic and trade relations between Germanyand the Soviet Union in the period of 1918–1944. During this period trade relations withGermany constituted a continuation of relations between Tsarist Russia and Germany beforeWorld War I. The German-Soviet Economic Agreement of October 12, 1925, formed specialconditions for the mutual trade relations between the two countries. In addition to the normalexchange of goods, German exports to the Soviet Union were based from the very beginningon a system negotiated by the Soviet Trade Mission to Berlin under which the Soviet Union wasgranted loans for financing additional orders from Germany. Trade with Soviet Union, promotedby the first credit-based operations, led to a dynamic exchange of goods, which reached itshighest point in 1931. In the early 1930s, however, Soviet imports decreased as regime assertedpower and its weakened adherence to the disarmament requirements of the Treaty of Versaillesdecreased Germany’s reliance on Soviet imports. In addition, the Nazi Party’s ascent to powerincreased tensions between Germany and the Soviet Union. In the mid-1930s, the Soviet Unionmade repeated efforts at reestablishing closer contacts with Germany. The Soviets chieflysought to repay, with raw materials, the debts which arose from earlier trade exchange, whileGermany sought to rearm, therefore both countries signed a credit agreement in 1935. The saidagreement placed at the disposal of the Soviet Union until June 30, 1937, the loans amountingto 200 million Reichsmarks, to be repaid in the period 1940–1943. The Soviet Union used183 million Reichsmarks from this credit. The preceding credit operations were, in principle,liquidated. Economic reconciliation was hampered by political tensions after the Anschluss inmid-1938 and Hitler’s increasing hesitance to deal with the Soviet Union. However, a new periodin the development of Soviet–German economic relations began after the Ribbetrop–MolotovAgreement, which was concluded in August of 1939.

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Machauer, Achim, and Dirk Schiereck. "Church-based Credit Cooperatives in Germany." Annals of Public and Cooperative Economics 75, no. 2 (June 2004): 319–37. http://dx.doi.org/10.1111/j.1467-8292.2004.00254.x.

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Spoz, Anna, and Anna Dąbkowska. "Availability of Credit for Microenterprises in Germany." Annales Universitatis Mariae Curie-Skłodowska, sectio H, Oeconomia 51, no. 6 (April 13, 2018): 421. http://dx.doi.org/10.17951/h.2017.51.6.421.

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Golitsyn, Yu P., and A. S. Sokolov. "German Bank of Soviet Russia (Activity of the German-Volga Bank of Agricultural Credit in the 1920s)." Modern History of Russia 11, no. 3 (2021): 638–53. http://dx.doi.org/10.21638/11701/spbu24.2021.305.

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The transition of Soviet Russia from “war communism” to a new economic policy required the restoration of commodity-money exchange, the financial and tax system, credit and other market institutions. The need for rapid recovery and development of all branches of the national economy predetermined a certain departure from the “communist” views on banking and in the early 1920s. in the country, along with the State Bank, special banks appeared. These banks, being under the control of the relevant economic commissariats, ensured the implementation of the necessary financial and credit policy in this branch of the national economy. The article examines the activity of the German-Volga Agricultural Credit Bank in the ASSR of the Volga Germans during the period of the new economic policy. Special attention is paid to the bank’s issuance of a bond loan intended for placement, primarily on the foreign market. The bank bonds were supposed to be placed in Germany and among the German diasporas of the United States and Latin America. The article analyzes the activities of Nemvolbank in attracting foreign currency funds. The source base was the documents stored in the Russian State Archive of Economics in the funds of the Ministry of Finance of the USSR and the Ministry of Foreign Trade of the USSR: correspondence between the leadership of the ASSR of the Volga Germans about the issue of the loan and the terms of its placement, Regulations on the issue of bonds, etc. The role of the bank in the development of Soviet- German financial and economic relations within the framework of the diplomatic rapprochement of the two countries is traced. Shown activity Newalliance for the return of German colonists, immigrants back in the Volga region. It is concluded that the German-Volga Bank conducted quite active foreign trade activities.

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Kercher, Jan, and Nicole Rohde. "German Students Abroad." International Higher Education, no. 75 (March 17, 2014): 18–19. http://dx.doi.org/10.6017/ihe.2014.75.5434.

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Increasing the number of German graduates who have spent time abroad during their studies is a key objective of Germany's higher education policy. Available data shows that the development of internationally mobile German students depends on the type of mobility, i.e. degree or credit mobility. While there has been a marked increase in degree mobility since 1991, credit mobility quotas have stabilized at about a third of all German graduates since 2000. Thus, Germany has surpassed the Europe-wide target which states that 20% of all graduates should spend a study or training period abroad by 2020. Meanwhile, the Joint Science Conference (GWK) of the federal and state governments considers 50% of graduates who gained study-related experience abroad as a mid-term goal.

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Belina, Bernd. "What's the Matter with Germany? On Fetishizations of the Euro Crisis in Germany's Public Discourse, and Their Basis in Social Processes and Relations." Human Geography 6, no. 2 (July 2013): 26–37. http://dx.doi.org/10.1177/194277861300600203.

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I use hegemonic German interpretations of the current crisis of the Euro as my point of departure to discuss why ideological interpretations of the crisis prevail in Germany. As such worldviews are rooted in social processes and relations, I discuss some that are relevant to the present conjuncture: uneven development and circuits of trade and credit/debt within the Eurozone, the history and scalar construction of the EU and the Euro, and the role of German export oriented capital. I focus on three fetishizations that structure interpretations favoring the interests of capital over those of the working classes: the fetishization of credit/debt, the fetishization of competitiveness, and the fetishization of territory.

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Khayitov, Shodmon Akhmedovich, and Azizbek Toynor oglu Teshaev. "THE PROCESS OF UNINON OF GERM THE PROCESS OF UNINON OF GERMANY: ACTIVITY OF HELMUT Y OF HELMUT KHOL." Scientific Reports of Bukhara State University 4, no. 2 (April 27, 2020): 271–75. http://dx.doi.org/10.52297/2181-1466/2020/4/2/2.

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This article provides information about the review of the merger of the two German states, initially converted to occupation after World War II, and then divided into two parts, as well as the problems and role in this review of German Chancellor Helmut Kohl. Also in the article we tried to analyze deeply Helmut Kohl's approach to solving political, economic, financial, credit and ethical problems in a united Germany.

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Mertens, Daniel. "Borrowing for social security? Credit, asset-based welfare and the decline of the German savings regime." Journal of European Social Policy 27, no. 5 (September 15, 2017): 474–90. http://dx.doi.org/10.1177/0958928717717658.

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This article investigates the question to what extent Germany fits into the recent trend of credit-based social policy that has originated in Anglophone economies. In the course of the financial crisis and with its preceding increase in private indebtedness in mind, a growing number of scholars have argued that loans to households have become a central component of contemporary welfare states. Because of comprehensive savings-promotion schemes, high levels of public welfare provision and a low homeownership rate, the German welfare state conventionally figures as the paradigmatic counter case to this intensifying relation between welfare and finance. This article argues, to the contrary, that one can observe the rise of credit-based social policy in Germany due to the gradual erosion of savings promotion, the expansion of quasi-public loan schemes and the restructuring of the welfare state since the mid-1970s. Based on document and statistical analysis, the article evaluates reform trajectories in the field of pensions, education and healthcare to substantiate this claim. Within the current low-interest rate environment in the Eurozone, the developments combined might well challenge the traditional savings-oriented features of the German welfare state and its political economy.

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FARR, IAN. "Farmers’ Cooperatives in Bavaria, 1880–1914: ‘State-Help’ and ‘Self-Help’ in Imperial Germany." Rural History 18, no. 2 (October 2007): 163–82. http://dx.doi.org/10.1017/s0956793307002130.

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AbstractThis paper examines the growth of peasant/farmer cooperatives in the German state of Bavaria in the years circa 1880–1914. The remarkable increase in the number of cooperative ventures in rural Germany, seen most clearly in the proliferation of credit cooperatives (Raiffeisenvereine), has attracted scant attention from historians. This study of the phenomenon in Bavaria suggests that the longer-term structural problems of peasant agriculture, compounded by seasonal crises and the absence of adequate structures of credit for small producers, all helped to make peasant farmers more receptive to cooperative innovation. In addition, however, state encouragement, galvanised in no small measure by the marked and, for the Bavarian state, discomfiting politicisation of agrarian interests in the early 1890s, was also instrumental in the extension of the cooperative idea. Certainly the more demagogic agrarian lobbies of the period, whether in Bavaria or in Germany as a whole, protested loudly that self-help measures such as cooperative credit, purchase and sales counted for relatively little, and that the only sure protection for farmers in the face of rapidly changing market conditions was large-scale state subvention, above all in the form of higher tariffs. However, the evidence presented here suggests that political demands to insulate the peasantry from change in fact formed part of a critical interplay between agrarian mobilisation, state intervention and cooperative initiatives whose effects, even if difficult to calculate exactly, undoubtedly contributed to the improvements in peasant farming in this period.

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Sultanova, Nilufar. "DIRECTIONS OF DEVELOPMENT OF THE MICROCREDIT SYSTEM BASED ON THE EXPERIENCE OF FOREIGN COUNTRIES." INNOVATIONS IN ECONOMY 3, no. 3 (March 30, 2020): 19–25. http://dx.doi.org/10.26739/2181-9491-2020-3-3.

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This article is comprehensive, exploring specific areas of microcredit in the experiences of Germany, Poland, Mexico, Spain and Russia.The purpose of the study is to study the role of micro credit in interest rates and usiness development in countries with advanced micro credit systems

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Dunford, Michael, Kyoung H. Lee, Weidong Liu, and Godfrey Yeung. "Geographical interdependence, international trade and economic dynamics: The Chinese and German solar energy industries." European Urban and Regional Studies 20, no. 1 (July 5, 2012): 14–36. http://dx.doi.org/10.1177/0969776412448093.

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The trajectories of the German and Chinese photovoltaic industries differ significantly yet are strongly interdependent. Germany has seen a rapid growth in market demand and a strong increase in production, especially in the less developed eastern half of the country. Chinese growth has been export driven. These contrasting trajectories reflect the roles of market creation, investment and credit and the drivers of innovation and competitiveness. Consequent differences in competiveness have generated major trade disputes.

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Savchenko, Maya M. "Criminal legislation of foreign countries on fraudulent encroachments on property and legitimate interests of credit institutions." Current Issues of the State and Law, no. 20 (2021): 779–91. http://dx.doi.org/10.20310/2587-9340-2021-5-20-779-791.

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We consider legislative problems of regulating liability for fraud in the field of lending. We conduct a comparative analysis of the provisions of the criminal legislation of foreign countries for credit fraud that infringes on the property and legitimate interests of credit institutions. We note that German criminal law provides for liability for crimes of fraud and abuse of con-fidence for criminal purposes. A feature of the German language is in this case the interpretation of the concept of “credit fraud” as “fraud”, the most correct in this case, the name of fraud in the field of credit will be as “credit fraud”. We analyze the controversial nature of the object of this crime within the framework of German criminal law and the concept of credit is given, which made it possible to conclude that the rule that ensures combating fraud in the credit sector is limited in its application exclusively to the sphere of lending. Based on the analysis of the signs of the objective side of fraudulent encroachments in the field of lending, it was concluded that the composition of credit fraud is formal. Investigative practice shows that when establishing guilt, certain difficulties arise in practice. The norm on credit fraud is characterized in criminal law as saturated with vague, evaluative signs, for example, the concept of “economy or enterprise”, “incorrectness” of documents and written information, their “significance” for making a decision on a loan. For a comparative analysis, the subject of the study was also taken the criminal law on credit fraud of the CIS member states. In the course of the analysis of the provisions of the criminal legislation of the CIS member states, it was concluded that there is no unambiguity in the formulation of the disposition of the rules on credit fraud among the member countries. Thus, the criminal legislation in matters of criminalization of fraud in the field of lending in Azerbaijan and Kazakhstan tends more to the Russian one, while in Belarus, Ukraine, Moldova, a tendency has been revealed that the norms are close to the criminal legislation of Germany. A study of the English and Australian court practice in criminal cases in the field of lending allows us to conclude that the temporary borrowing of credit funds qualifies as gratuitous fraudulent encroachment in the credit sector. US criminal law provides for liability for credit fraud as part of the general fraud rule.

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Tshaka, R. S. "THE SIGNIFICANCE OF KARL BARTH’S THEOLOGY FOR THE BELHAR CONFESSION: AN ANALYSIS OF THEOLOGY OF GERMAN ORIGIN IN SOUTH AFRICA DURING THE APARTHEID EPOCH." Studia Historiae Ecclesiasticae 41, no. 1 (August 3, 2015): 185–99. http://dx.doi.org/10.25159/2412-4265/96.

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Academic theology in South Africa was influenced extensively by theology of German origin. This article probes the relationship between theologies that originated in Europe. While there are many perspectives that could be cited to credit apartheid theology for having originated in Europe and in Germany in particular, this article confines itself to a theological influence which challenged apartheid as a sin and a heresy. It looks especially at the influence of the Swiss theologian Karl Barth, who at the time of his critical theological contribution was doing his theology in Germany. The article then refers to the influence of Barmen theology in the origin of the Belhar Confession. A few current challenges are also laid out to conclude.

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Muellbauer, John. "Housing, debt and the economy: a tale of two countries." National Institute Economic Review 245 (August 2018): R20—R33. http://dx.doi.org/10.1177/002795011824500112.

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In housing affordability levels and volatility, there could hardly be a greater contrast than between the UK and Germany. Differences in history, institutions and policies are explored in this paper. Residential housing supply has been far more expansionary in Germany and mortgage credit more tightly regulated. A sensibly regulated rental market and stable German house prices have combined to leave the rental sector with over half of tenures. Policy failures in the UK have resulted in widening intergenerational inequality, increased social exclusion, adversely affected productivity and growth and raised the risk of financial instability. Policy lessons are drawn for the UK, which go far beyond the remit of the immediately responsible Ministry of Housing, Communities and Local Government.

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Graham, Kirk Robert. "Germany on the Couch: Psychology and the Development of British Subversive Propaganda to Nazi Germany." Journal of Contemporary History 54, no. 3 (January 12, 2018): 487–507. http://dx.doi.org/10.1177/0022009417739365.

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New developments in social psychology proliferated in Britain and the USA throughout the 1930s. With the advent of war, psychology promised insight into the Nazi mind. Some war departments were particularly enthusiastic about these intellectual developments. The USA’s OSS can claim credit for bringing Frankfurt School neo-Freudianism onto the public stage. In Britain meanwhile, the Ministry of Information turned to behaviourism in order to better understand the British public. But the propagandists of the Political Warfare Executive (PWE), charged with the subversion of enemy morale, were wary of new perspectives. Psychology was valuable only so long as it was practical. For PWE, this meant that psychopathological orientations, which emphasized ahistorical German distinction, were for much of the war favoured over behaviourism or neo-Freudianism. This article examines the role that psychology played in British subversive propaganda directed at Nazi Germany during the Second World War. Did psychology offer any answers to the ‘German problem'? And what made PWE distinct from contemporary propaganda organizations? PWE's particular engagement with psychology demonstrates the diverse and often culturally contingent ways in which psychology transitioned from the academy to the public sphere, and offers new insight into British wartime perspectives on Nazi Germany.

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Andy Hartanto, Joseph, and Sulaksono Sulaksono. "The notary’s responsibility toward the authenticity of credit bank guarantees in Indonesia." Banks and Bank Systems 14, no. 2 (July 1, 2019): 164–73. http://dx.doi.org/10.21511/bbs.14(2).2019.14.

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This paper provides an overview of the law and a statute regarding the notary’s responsibility toward the authenticity of credit bank guarantee in Indonesia, and compares them with those of other nations, including the United States of America and Germany. This study uses a combination of primary and secondary sources to assess the current state of the notary responsibility situation regarding banks and the financial lending world in general and employs a normative or doctrinal approach that views laws as a system of norms. The functions of notaries in Indonesia are different from those performed by notaries in some other countries, the notaries play different roles and participate in many formalities: a) a function in credit banking bind guarantees that not only allow people to feel comfortable with their transactions, but also increase public trust in the whole banking system; b) personal and material guarantees. In transacting any deeds, including credit bank guarantees, the notary is responsible for the authenticity of the physical, formal and material aspects of the deed; c) the binding of collateral objects; d) a function in binding banking credit guarantees. Also, notaries have the risk of illegal jurisdiction of a banking credit guarantee deed. Notaries in Indonesia have different roles compared to other countries, including the United States of America and Germany. Notaries play an important role in increasing economic growth, especially through their responsibility for the authenticity of credit bank guarantees activity and they add to the overall body of knowledge.

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Zielke, Stephan, and Marcin Komor. "Loyalty cards, credit options and economic market development." International Journal of Retail & Distribution Management 48, no. 6 (May 8, 2020): 591–607. http://dx.doi.org/10.1108/ijrdm-05-2019-0157.

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PurposeThis paper analyses three strategies in customers’ use to afford consumption in a developed and an emerging market for different product groups. The strategies are: (1) usage of loyalty cards, (2) usage of credit cards and (3) usage of long-term credits.Design/methodology/approachMall intercept surveys conducted in Poland (emerging market) and Germany (developed market) provide data for testing a set of hypotheses using ANOVAs.FindingsResults show that customers in emerging markets show no differences in the usage of loyalty cards for product categories with high shopping frequency (groceries) compared to developed markets, while in all other product categories loyalty card usage is stronger. Results show further that in low price categories, customers in emerging markets use credit card payments more often compared to customers in developed markets. In high price categories, they use credit cards less often, but long-term credits more often.Research limitations/implicationsResults have implications for the design of loyalty programs and payment options in different markets. Results have also implications for public policy regarding concerns about increasing private debt in emerging countries.Originality/valueThis paper suggests a cost-benefit framework where customers in emerging countries perceive benefits of loyalty cards and credit options higher, while they are willing to bear higher costs. As a result, effects of product category characteristics on usage that are observable in developed markets do not exist in emerging markets.

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Goldbach, Stefan, and Volker Nitsch. "Extra Credit: Bank Finance and Firm Export Status in Germany." World Economy 37, no. 7 (January 27, 2014): 883–91. http://dx.doi.org/10.1111/twec.12133.

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Otto, Till, Patrick Wambold, and Karsten Wenzlaff. "Tied Agents within the ECSPR Regime." Nordic Journal of Commercial Law, no. 2 (November 15, 2022): 7. http://dx.doi.org/10.54337/ojs.njcl.2.7546.

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The European Crowdfunding Service Provider Regime allows the intermediation of securities, loans and other admitted instruments for crowdfunding purposes up to five million Euro. Crowdfunding offers above five million Euro continue to be subject to national crowdfunding regimes, which may be regulated under MiFID. The authors discuss how existing MiFID licenses can be used in parallel to a license under ECSPR, with a focus on tied agents who operate under a so-called liability umbrella (investment firm or credit institution) holding a MiFID license. In Germany, the law implementing MiFID states that tied agents can operate “solely [in the name,] for the account and under the liability of” an investment firm or credit institution acting as liability umbrella. This raises the question, whether a tied agent can hold a license under ECSPR itself at the same time. However, the authors argue that both MiFID and ECSPR as well as the intent of the German legislator provide for the fact that one can hold an ECSPR authorization and at the same time be appointed as tied agent of a MiFID investment firm or credit institution.

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Moeller, Robert G. "Die Deutsche Kriegsgesellschaft 1939 bis 1945. Politisierung, Vernichtung, Überleben. Edited by Jörg Echternkamp. Band 9, Halbband 1, Das Deutsche Reich und der Zweite Weltkrieg. Edited by Militärgeschichtliches Forschungsamt. Munich: Deutsche Verlags-Anstalt. 2004. Pp. xi+993. €49.80. ISBN 3-421-06236-6. Die Deutsche Kriegsgesellschaft 1939 bis 1945. Ausbeutung, Deutungen, Ausgrenzung. Edited by Jörg Echternkamp. Band 9, Halbband 2, Das Deutsche Reich und der Zweite Weltkrieg. Edited by Militärgeschichtliches Forschungsamt. Munich: Deutsche Verlags-Anstalt. 2005. Pp. xiii+1112. €49.80. ISBN 3-421-06528-4." Central European History 39, no. 2 (May 19, 2006): 333–38. http://dx.doi.org/10.1017/s0008938906320122.

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During the Second World War, Germans fought a “two-front war.” A “community of fate” bound together Germans at home and Germans in uniform who carried the war beyond Germany's borders. “Between 1939 and 1945, there was no doubt that civilians were no longer excluded from the fighting; they found themselves right in the middle of it—as actors, as observers, and as those who bore the suffering” (part 1, p. 2) of the war. The Nazi leadership knew this from the start, and only days after the Nazi invasion of Poland, Hermann Göring was exhorting a factory workforce to remember: “We are now all fighters at the front!”(part 1, p. 8). Jörg Echternkamp reminds us of this in his introduction to this massive two-part volume, the latest installment in the history of Germany in the Second World War that has occupied historians of the Military History Research Office (Militärgeschichtliches Forschungsamt, or MGFA) for the last twenty-five years. Echternkamp is the editor, and he deserves enormous credit for pulling together a collection of twenty essays—some of which could easily stand on their own as monographs, all of which are grounded in staggering amounts of original research—that not only summarize what we know about the impact of the war on the homefront in Germany, but also add considerably to that knowledge. Previous volumes in the MGFA series (seven of which are available from Oxford University Press in English translation) have focused primarily on the military planning, the war at the front, and the organization of the war economy at home. In the more than 2,000 pages of this two-part volume, contributors turn their attention to the impact of the war on German society. The results are extremely impressive, and what Echternkamp has brought together will be the starting point for anyone who wants to understand the war at home in Germany.

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CLEMENT, PIET. "‘The touchstone of German credit’: Nazi Germany and the service of the Dawes and Young Loans." Financial History Review 11, no. 1 (April 2004): 33–50. http://dx.doi.org/10.1017/s0968565004000034.

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This article examines the Nazi government's external debt policy, with particular regard to the service of the Dawes and Young Loans, the two most important international loans Germany concluded during the interwar period. The goal of this policy was to end once and for all the obligations resulting from the First World War reparations settlement, and at the same time to economise drastically on Germany's scarce foreign exchange reserves. These aims were achieved by imposing a partial default on external debts and by bilateralising trade and financial negotiations, thus dismantling the 1930 Young Plan. In many respects, the Nazi government continued policies in place since 1931, except that it went further and was more ruthless in their execution. However, the negative long-term effects of this policy were beginning to take their toll as Germany's economy was cut off from the international financial markets and increasingly burdened by complex foreign exchange regulations. It was left to the German Federal Republic to deal with the financial legacy of this policy after the war.

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Filitov, A. M. "Moscow Treaty of the USSR-Germany and «Letter on German Unity». From Conflict to Compromise." MGIMO Review of International Relations 12, no. 6 (January 1, 2020): 46–60. http://dx.doi.org/10.24833/2071-8160-2019-6-69-46-60.

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The article considers the course and results of the Soviet-West German negotiations that led to the conclusion of the Moscow Treaty of August 12, 1970, which became an important factor in defusing international tensions on the European continent. Special attention is paid to the problem of the genesis of the so-called "Letter on German unity", the adoption of which the Soviet side stubbornly insisted on the representatives of Germany. The article reveals the flexible tactics of the Soviet delegation, which was headed by the Minister of foreign Affairs of the USSR AA. Gromyko: taking into account, in particular, the position of the GDR, the diplomats opposed the inclusion in the text of the Treaty of any provisions relating to the unification of Germany, but left open the prospect of such unification in the future. Some realism and willingness to compromise showed and West German negotiators, among whom special credit belongs to the personal emissary of Chancellor Brandt E. Bahr. On the basis of these compromises, a common position of the parties on the conclusion and subsequent ratification of the Moscow Treaty was worked out. The article pays due attention to the "US factor" in Soviet-West German relations. Formally declaring a positive attitude to the" new Eastern policy " of Germany, in fact the American side tried to compromise it in every possible way and complicate the process of preparing the Moscow Treaty. There is also some inconsistency in the German diplomacy in departing from previous political dogmas, primarily from the claims to the sole representation of all Germans. The main conclusion of the article is that as a result of the complex and sometimes conflicting Soviet-West German negotiation process, its participants managed to overcome the real contradiction between the principle of inviolability of borders and the right to national self-determination. In the current international situation, when this contradiction is artificially aggravated by the supporters of confrontation, the experience gained in the development and coordination of the provisions of the Moscow Treaty is of actual practical importance. The work is written on the basis of previously not entered into scientific circulation of primary sources from the Archive of foreign policy of the Russian Federation, as well as published West German documents.The author declares absence of conflict of interests.

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Li, Kang, Jyrki Niskanen, and Mervi Niskanen. "Capital structure and firm performance in European SMEs." Managerial Finance 45, no. 5 (May 13, 2019): 582–601. http://dx.doi.org/10.1108/mf-01-2017-0018.

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Purpose The purpose of this paper is to investigate whether the relationship between capital structure and firm performance in small- and medium-sized enterprises (SMEs) is moderated by credit risk. Design/methodology/approach The authors empirically test whether an SME’s credit risk affects the SME’s relationship between capital structure and firm performance by using a 2012 cross-sectional sample of European SMEs from Austria, Belgium, Finland, France, Germany, Italy, Portugal, Spain, Sweden and the UK. Findings The empirical results suggest that in low credit risk SMEs, the debt ratio is negatively related to firm performance; however, this relationship is not present in high credit risk SMEs. Therefore, it is indicated that SME credit risk moderates the relationship between capital structure and firm performance. Practical implications The findings of the paper will enable financial managers to understand the importance of SMEs’ credit risk and will assist them in maximizing firms’ performance. Originality/value This paper extends the findings of previous studies by examining whether credit risk affects the relationship between capital structure and firm performance.

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Felbermayr, Gabriel J., and Erdal Yalcin. "Export Credit Guarantees and Export Performance: An Empirical Analysis for Germany." World Economy 36, no. 8 (May 3, 2013): 967–99. http://dx.doi.org/10.1111/twec.12031.

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Elsas, Ralf, and Jan Pieter Krahnen. "Is relationship lending special? Evidence from credit-file data in Germany." Journal of Banking & Finance 22, no. 10-11 (October 1998): 1283–316. http://dx.doi.org/10.1016/s0378-4266(98)00063-6.

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BURDEKIN, RICHARD C. K., and PAUL BURKETT. "MONEY, CREDIT, and WAGES IN HYPERINFLATION: POST-WORLD WAR I GERMANY." Economic Inquiry 30, no. 3 (July 1992): 479–95. http://dx.doi.org/10.1111/j.1465-7295.1992.tb01976.x.

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Kuzin, Vladimir, and Franziska Schobert. "Why does bank credit not drive money in Germany (any more)?" Economic Modelling 48 (August 2015): 41–51. http://dx.doi.org/10.1016/j.econmod.2014.10.013.

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Tamaela, Ida Costansa, Patresya Apituley, and Eldaa Crystle Wenno. "LITERASI INFORMASI LINTAS BUDAYA KUNCI KESUKSESAN BERBASIS DARING (KOLABORASI DOSEN DAN ALUMNI)." Gaba-Gaba : Jurnal Pengabdian Kepada Masyarakat dalam Bidang Pendidikan Bahasa dan Seni 2, no. 1 (November 28, 2021): 65–73. http://dx.doi.org/10.30598/gabagabavol2iss1pp65-73.

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The purpose of this webinar with the theme Interkulturelle Landeskunde, which is conducted virtually or online, is to provide information on how important cross-cultural communication is in building a good relationship with individuals or communities with different backgrounds. This webinar activity was attended by 2nd semester students who took Interkulturelle Landeskunde, numbered 18 peoples and high school or vocational students, namely from SMAN 9 Ambon, SMAN 4 Maluku Tengah, SMAN 1 Seram Bagian barat, SMAN 44 Maluku Tengah, and SMKS Tourism Pamahanunusa in Masohi, a total of 62 peoples. The methods used in this webinar activity are the presentation of material, questions, and answers, filling out questionnaires distributed during the webinar, and playing videos about German and its language knowledge. The questionnaire distributed contained questions related to the material provided by the speakers. At the end of the competition, there is a quick and precise competition in the form of a quiz for students. Students who can answer quickly and accurately are given prizes in the form of credit data. The webinar was carried out by presenting material by three German speakers, and three alumni of German Language Education Study Program students who were already working and living in Germany. And one lecturer of the German Language Education Study Program FKIP Unpatti who is currently studying further in Dresden (Germany). The results of the questionnaire answers obtained showed that the activities carried out succeeded in making students learn to continue their studies or work in Germany as well as important cross-cultural understanding.

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FREYER, Eckhard, Ihor LISHCHYNSKYY, and Mariia LYZUN. "DEVELOPMENT OF RENEWABLE ENERGY: THE EXPERIENCE OF EAST GERMANY FOR UKRAINE." JOURNAL OF EUROPEAN ECONOMY 20, Issue Vol 20, No 3 (2021) (September 1, 2021): 442–60. http://dx.doi.org/10.35774/jee2021.03.440.

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Renewable energy development has become a modern global priority. German regions are characterized by a very high degree of renewable energy development. In 2020, the volume of electricity generation from renewable sources exceeded the traditional ones. However, the use of renewable energy sources in the transport sector and in the heating / cooling industry remains relatively low in Germany. Regions in the East Germany had historically been dominated by coal energy. Staring with 2017, the EU has begun implementing a policy of developing so-called «Coal Regions in Transition», aimed at supporting economic diversification and technological transformation of coal and carbonintensive regions. A total of 42 such regions were identified, including 4 in East Germany. The natural environment of the East Germany fits the development of wind energy better, though the solar system could be considered a substitute for the current coal plants. The green energy sector in Ukraine is only emerging. However, renewable energy is attracting more attention and investments. Its share in total supply has risen from 1.7 percent in 2007 to almost 5 percent in 2019. The energy of biofuels and waste is dominating among the renewable sources, comprising around 77 percent of their total supply. The paper aims to reveal the experience of East Germany to enhance the mechanism of green energy development in Ukraine. Among the new recommended tools for Ukrainian practice are export-credit agencies, EPC-contractors, green securities, and environmental investments.

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Aleksandrova, Anna. "The Echo of War: The Issue of World War II Reparations and Occupation Loan in Contemporary Greece." Contemporary Europe 103, no. 3 (June 30, 2021): 167–80. http://dx.doi.org/10.15211/soveurope32021167180.

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In World War II Greece suffered immense devastation; aside from the damage itself, the country was forced to provide the Third Reich with an occupation loan. After the war, Athens claimed reparations and repayment of the loan, but not all such claims were settled. The final solution was postponed until the eventual reunification of Germany and the signing of a peace treaty. All attempts of Greek diplomats to address the issue were met with the position that the issue has already been resolved diplomatically and in legal terms. The simmering conflict gained new prominence during the financial and economic crisis of 2010s. Greek citizens, frustrated over the strict austerity policies, blamed not only their own government, but also the “troika” of creditors, which forced Greece to adopt such measures. Since the financial assistance program was developed largely by Germany, the Greek collective memory provided a number of vivid negative images connected to Germany, the Nazi crimes in particular. In the public space of Greece the issues of reparations and the occupation credit were constantly discussed, putting further strain on Greek-German relations. These attitudes among the Greek public were used by Greek politicians who strived to shift the blame for the ongoing crisis onto the Germany. Stereotypes of the past became a tool ofGreek populists. During the crisis the issue of post-war payments reached a new level, and a desire for historic justice was accompanied by the blamegame against Germany.

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Emeka Okafor, Luke. "Bank Credit, Public Financial Incentives, Tax Financial Incentives and Export Performance During the Global Financial Crisis: A Review." Shanlax International Journal of Economics 8, no. 2 (March 1, 2020): 1–4. http://dx.doi.org/10.34293/economics.v8i2.2090.

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The EU-EFIGE/Bruegel-Unicredit comparable dataset consisting of firms operating in Austria, France, Germany, Italy, Hungary, Spain, and the UK was used for the empirical analysis. To cover the gaps in the existing literature, the study under review investigates the effects of access to credit and financial incentives on firms’ export performance during the period of the 2008 global financial crisis. This includes examining the moderating roles of firm size and financial development on the link between access to credit or financial incentives and export performance.

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Djuric, Djordje. "Prince Lichnowsky’s memorandum as a source for determining the responsibility for the outbreak of the First World War." Zbornik Matice srpske za drustvene nauke, no. 150 (2015): 43–51. http://dx.doi.org/10.2298/zmsdn1550043d.

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Prince Karl Max Lichnowsky was a German ambassador in London from 1912 to 1914. He was one of the most important direct participants of the July Crisis which led to the outbreak of the First World War. This document was written in 1916 and secretly delivered to the German military and political supreme authorities. It came into possession of Swedish socialists and they published it, first in English and then in all other European languages. This document explicitly attributes the responsibility for the outbreak of the war to the German political and social circles. It accuses them of instigating Austria- Hungary to attack Serbia. The Germans declined and undermined solemn interventions to evade the war. Also, this document briefly describes the German imperialistic politics in the decade before the War and indicates that these politics have inevitably led to the confrontation with Great Britain, Russia and France. Assassination in Sarajevo is indicated as a motive but little attention is paid to it (Gavrilo Princip is not even mentioned at all). During the Paris Peace Conference (in Versailles), this document was used as one of the important arguments to declare Germany guilty of starting the war. Western press wrote a great deal about it and it was given a lot of credit. Also, this memorandum was often disputed during the debate in German politics and historiography in the 1920s and the 1930s on the war accountability (Kriegsschuldsfrage), but it was often quoted by German opponents.

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I Rabadi, Reem, and Alexander D. Rabadi. "Anxiety in Learning German as a Foreign Language: Its Association with Learners Variables." Dirasat: Human and Social Sciences 49, no. 4 (July 30, 2022): 410–24. http://dx.doi.org/10.35516/hum.v49i4.2091.

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This study aims to investigate the foreign language anxiety (FLA) level among learners of German as a foreign language and discover the relationship between FLA and students’ variables that are gender, year of study, achievement in German classes, experience staying in Germany for more than six months, weekly contact hours, and course load of the term. The study used a quantitative research method using a survey approach. The Foreign Language Classroom Anxiety Scale (FLCAS), developed by Horwitz (1986), was administered to 246 German language learners in Jordan. Descriptive statistics, Chi-Squared, and univariate and multivariate ordinal logistic regression analysis were used to analyse the collected data then fitted on a regression model. The results suggest that the participants’ level of FLA was on a moderate level, with the anxiety of the German Class as the most dominant aspect and Text Anxiety as the least aspect. The gender of the participants and their weekly contact hours of the German language did not determine their level of anxiety in learning German as a foreign language. The variables that significantly affected the participants’ language anxiety, whether high or low anxiety, were the year of study, the German-language assessment score, staying for more than six months in Germany studying or field training, and the total number of credit hours registered for the term. It is recommended that language instructors create a positive and friendly attitude towards students to reduce language anxiety in the classroom.

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Kritikos, Alexander, and Frank Wießner. "Ein zweiter Kreditmarkt für eine zweite Chance." Perspektiven der Wirtschaftspolitik 1, no. 3 (August 2000): 357–78. http://dx.doi.org/10.1111/1468-2516.00022.

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Abstract Unregulated credit markets will not finance the majority of unemployed people when they aim to receive a loan for running their own business. In the US an optimal policy mix reduces the entry barriers so that the most promising selfemployment business plans are self-selected and financed via a secondary credit market. By this tool unemployed persons get a second chance which opens the possibility for self-employment. In Germany a similar approach is missing. The existing policy tools in the finance area are not designed to provide a second chance. 378 ß

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Athanasios. "An Eclectic Credit Cycle Search: The Case of US, Japan and Germany." International Journal of Economics and Business Administration IV, Issue 2 (December 1, 2016): 70–96. http://dx.doi.org/10.35808/ijeba/100.

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Chittenden, Francis, and Richard Bragg. "Trade Credit, Cash-flow and SMEs in the UK, Germany and France." International Small Business Journal: Researching Entrepreneurship 16, no. 1 (October 1997): 22–35. http://dx.doi.org/10.1177/0266242697161002.

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Holmes, Mark J. "Bank credit in the ERM: an investigation of the role of Germany." Applied Economics Letters 3, no. 5 (May 1996): 325–28. http://dx.doi.org/10.1080/135048596356447.

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Rösch, Daniel. "Correlations and business cycles of credit risk: Evidence from bankruptcies in Germany." Financial Markets and Portfolio Management 17, no. 3 (September 2003): 309–31. http://dx.doi.org/10.1007/s11408-003-0303-2.

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Neyer, Ulrike. "Asymmetric information in credit markets—implications for the transition in Eastern Germany." Economic Systems 28, no. 1 (March 2004): 61–78. http://dx.doi.org/10.1016/j.ecosys.2003.11.004.

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Rodriguez Gonzalez, Miguel, Frederik Kunze, Christoph Schwarzbach, and Christoph Dieng. "Asset liability management and the euro crisis." Journal of Risk Finance 18, no. 4 (August 21, 2017): 466–83. http://dx.doi.org/10.1108/jrf-01-2017-0016.

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Purpose This paper aims to investigate the long-term relationships of long-term European Monetary Union (EMU) government bond yields. From an asset managers’ or risk managers’ perspective during the euro crisis, the relevance of sovereign credit and redenomination risk became a major issue. Furthermore, it has to be differentiated between core and non-core EMU member countries. Design/methodology/approach Methods of applied time series analysis are used to investigate EMU government bond yields and EMU government bond yield spreads for Spain, Italy, The Netherlands, Austria and Germany. Both standard unit root testing procedures and breakpoint unit root tests are used to examine cointegrating relationships and structural changes in these relationships. Findings The empirical results deliver clear evidence for structural shifts in the long-term relationship between German and the two non-core EMU countries (Italy and Spain). The timing of the breaks coincides with the timing of the euro crisis. On the contrary, the results for Austria and The Netherlands are different from the findings for the two non-core countries. Research limitations/implications One major limitation of the study is the limited availability of data regarding to the reaction of asset managers or risk managers to the euro crisis. Especially in the context of the discussion with regard to the relevant risk-free rate for investors, this strand of research is relatively new. Practical implications A deeper understanding of changes in the long-term relationship between government bond yields and the re-emergence of redenomination risk is important for asset managers and risk managers in the financial services industry. This is especially true for German life insurers. Originality/value The study provides various empirical contributions to the literature on the euro crisis and sovereign credit risk. First, previous results with regard to the structural changes in the long-term relationship between German and Spanish, German and Italian, German and Austrian as well as Germany and Dutch government bond yields are confirmed using unit root breakpoint tests. Second, investigating the autoregressive coefficient and the timing of the breaks delivers evidence that non-core countries have been more exposed to the fear of redenomination risk. Third, we raise the question which risk free interest rate is relevant for the affected countries.

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Cahn, Andreas. "Intra-group Loans under German Law." European Company Law 7, Issue 2 (April 1, 2010): 44–50. http://dx.doi.org/10.54648/eucl2010010.

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Intra group financing may sometimes be an attractive alternative to credit facilities from a bank (consortium). However, parent and subsidiary loans, as well as ‘lateral’ (sidestream) loans trigger their own pitfalls, in particular in connection with recently changed capital preservation law in Germany. The author discusses and analyses these pitfalls.

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Scharnagl, Michael, and Martin Mandler. "Real and Financial Cycles in Euro Area Economies: Results from Wavelet Analysis." Jahrbücher für Nationalökonomie und Statistik 239, no. 5-6 (September 25, 2019): 895–916. http://dx.doi.org/10.1515/jbnst-2019-0035.

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Abstract We study the within-country dimension of financial cycles in the four largest euro area economies using tools from wavelet analysis. We focus on credit and house price cycles which are most commonly used to represent the financial cycle. With the exception of Germany, the variables contain important common cycles within each country close to the upper bound of business cycle length and beyond which can be interpreted as financial cycles. These cycles are closely linked to domestic cycles in real activity showing financial and real economic cycles as interconnected phenomena. For these common cycles, credit and house prices lag real GDP.

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Fernández-Villaverde, Jesús, Luis Garicano, and Tano Santos. "Political Credit Cycles: The Case of the Eurozone." Journal of Economic Perspectives 27, no. 3 (August 1, 2013): 145–66. http://dx.doi.org/10.1257/jep.27.3.145.

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We study the mechanisms through which the entry into the euro delayed, rather than advanced, key economic reforms in the eurozone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional deterioration, in turn, not only reduced their growth prospects but also fed back into financial conditions, prolonging the credit boom and delaying the response to the bubble when the speculative nature of the cycle was already evident. We analyze empirically the interrelation between the financial boom and the reform process in Greece, Spain, Ireland, and Portugal and, by way of contrast, in Germany, a country that did experience a reform process after the creation of the euro.

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Slatvinska, Valeria, Olha Kibik, Svitlana Oneshko, and Serhii Fesak. "The experience of EU countries towards the development of infrastructure and logistics hubs." Revista de la Universidad del Zulia 13, no. 36 (December 30, 2021): 373–87. http://dx.doi.org/10.46925//rdluz.36.24.

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The objective of the study is to assess the development of infrastructure and logistics hubs using the example of the EU countries, namely: Germany, Spain and Poland. The methodology is based on a comparative analysis of infrastructure hubs development indicators in Germany, Spain and Poland according to InfraCompass. Results. The general policy and strategy of the EU as a supranational institution determines the strategic goals and policies of Germany, Spain, and Poland in the field of infrastructure and logistics development. The EU provides financial incentives, political and administrative support for infrastructure hubs and logistics. Based on the research results, Germany, Spain, and Poland have common strengths contributing to infrastructure development: fair and transparent public procurement, a good insolvency protection system (Germany and Poland), a high credit rating (Germany), and financial stability (Poland). The general factors of the infrastructure facilities development are: in Germany – the development of infrastructure hubs is ensured by an effective regulatory framework and established rules for permitting, a quality legal system, a stable financial sector; in Spain – effective regulatory framework, effective tools of public administration; in Poland – the regulatory framework and infrastructure management systems.

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Ghosh, Bikramaditya, Spyros Papathanasiou, and Dimitrios Kenourgios. "Cross-Country Linkages and Asymmetries of Sovereign Risk Pluralistic Investigation of CDS Spreads." Sustainability 14, no. 21 (October 28, 2022): 14056. http://dx.doi.org/10.3390/su142114056.

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Credit Default Swap (CDS) spread is a realistic measure of credit risk. Changes in the spreads showcase changes in the underlying uncertainty or credit volatility regarding the credit risk, associated with the asset class. We use Multifractal Detrended Fluctuation Analysis (MF-DFA) to further investigate the presence of asymmetries and the difference between Greece and G7 countries in terms of credit risk. We have considered 2587 daily observations for each of the 48 CDS spreads. Hence, a total of 124,176 data points were under consideration across six yearly CDS categories of Greece and most of the G7 countries (Germany, USA, UK, Canada, Japan). The tenure of these CDS were 1 year, 2 years, 3 years, 5 years, 7 years, 10 years, 20 years, and 30 years. We have found that the Greek CDS spread movement is purely stochastic and anti-persistent, having practically no predictability at all. On the other hand, the remaining countries’ CDSs were highly predictable, showing a consistent long memory or long-range dependence, having embedded the bubble caused by herding. This is reflected in terms of flight-to-quality behavior and in estimates of CDS premiums for insurance against a default on government bonds.

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Turvey, Calum G. "Historical developments in agricultural finance and the genesis of America’s farm credit system." Agricultural Finance Review 77, no. 1 (May 2, 2017): 4–21. http://dx.doi.org/10.1108/afr-09-2016-0076.

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Purpose The purpose of this paper is to provide a review of major historical developments in agricultural finance, with particular emphasis on agricultural credit. It reviews the development of Raiffeisen and related banks that emerged in Germany and Europe throughout the nineteenth century and how the cooperative banking system made its way into the banking system of the USA in the early twentieth century. The paper emphasizes the role of the state in the developing of agricultural credit, especially with respect to farm mortgages, securitization, and bond structures. Design/methodology/approach This paper presents a historical synthesis of historical literature on agricultural credit. Findings This paper shows the direct linkage between the developments in Raiffeisen credit cooperatives and the Farm Credit System (FCS) and details the emergence of the land banks, farm credit banks, agricultural bonds and the role of joint-stock banks in agricultural credit policy. Originality/value In total, 2016 marks the 100th anniversary of the passing of the 1916 Federal Farm Loan Act which set in motion the USs’ first Government Sponsored Enterprise and catalyzed the formation of the FCS as it operates today to provide credit to farmers and rural communities on a cooperative basis. Although there are a few wonderful books written on certain aspects of the FCS the story of how the FCS was initiated and the many struggles it faced up to the 1933 Act has not been told often enough. This paper tells the story of the evolution of agricultural credit that ultimately led to the formation of the FCS.

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Journal articles on the topic 'Credit – Germany'

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