Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 29, 1999 erstellt
Description:
Economic and historic literature is divided on the impact of the war reparations France had to pay to Germany after 1871. In view of the crisis that hit the German economy and stock markets just a few years later some claim that the reparations were a "poisoned" gift that Germany should not have pursued. Based on a sketch of the historical events and their echo in the literature this paper applies various theories on the impact of monetary transfers between different economies on the case of the French war reparations. It concludes that observable negative impacts can indeed be traced back to the use Germany made of the reparations, but not on the transfer as such