What is Germany doing with its external surpluses?
This event has been postponed. The new date to be advised soon. 

Chaired by Sébastien Jean, Director, CEPII


  • Moritz Schularick, Professor of Economics, University of Bonn; Director, Macrofinance Lab, NYU, Visiting Research Professor Economic Policy, Managing Editor



Germany is not only the best at exporting high-end cars; it is also the world champion in exporting capital. In other words, no other country invests larger amounts of savings outside its borders. This is largely due to its accumulated trade (or saving over investment) surpluses. However, Germany plays in the third division when it comes to investment performance.

Moritz Schularick recently co-authored a research paper "Exportweltmeister: The Low Returns on Germany’s Capital Exports".

The presentation will be held in English and the Questions/Answers session in French and English.

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