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The fall of the Berlin Wall and its literary representations have often been described as a purely (white) German affair, as a discourse regarding (East/West) German identity. Taking on Leerssen's claim for a trans-/postnational imagology, this article provides an analysis of two novels depicting the fall of the Berlin Wall from transnational, not-(only)-German perspectives: Yadé Kara's "Selam Berlin" (2003) and Paul Beatty's "Slumberland" (2008). Comparing images and stereotypes used by both the Turkish-German narrator of Kara's and the African American narrator of Beatty's novel, it aims to undertake an exemplary case study of how imagology may be employed in contexts characterized by complex interferences of national, ethnic/racial, and urban ascriptions of belonging.
Regulation of investor access to financial products is often based on product familiarity indicated by previous use. The underlying premise that lack of familiarity with a product class causes unwarranted participation is difficult to test. This paper uses household-level data from the ‘experiment’ of German reunification that (exogenously) offered to East Germans access to capitalist products (exogenously) unfamiliar to them. We compare the evolution of post-unification participation of former East and West Germans in financial products, controlling for relevant household characteristics. We vary familiarity differentials by considering (i) both unfamiliar ‘capitalist’ products (stocks, bonds, and consumer credit) and ones available in the East (savings accounts and life insurance); and (ii) cohorts with different exposure to capitalism. We find that East Germans participated immediately in unfamiliar risky securities, at rates comparable to West Germans of similar characteristics. They phased out disproportionate participation in previously familiar assets as familiarity with capitalist products grew. They were more likely to use consumer debt, partly to catch up with richer new peers. We find no signs of abrupt participation drops that could suggest mistakes or regret related to lack of familiarity.
A growing body of literature shows the importance of financial literacy in households' financial decisions. However, fewer studies focus on understanding the determinants of financial literacy. Our paper fills this gap by analyzing a specific determinant, the educational system, to explain the heterogeneity in financial literacy scores across Germany. We suggest that the lower financial literacy observed in East Germany is partially caused by a different institutional framework experienced during the Cold War, more specifically, by the socialist educational system of the GDR which affected specific cohorts of individuals. By exploiting the unique set-up of the German reunification, we identify education as a channel through which institutions and financial literacy are related in the German context.