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Hintergründe der Euro-Abwertung

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  • Grömling, Michael

Abstract

Der Außenwert des Euro ist seit Anfang 1999 erheblich gesunken. Gegenüber dem Dollar hat er rund 20 Prozent eingebüßt. Dies kann jedoch keinesfalls auf einen psychologischen Stimmungsvorbehalt gegenüber der jungen europäischen Währung zurückgeführt werden. Vielmehr gibt es für die Wechselkurstrends zwischen Dollar und Euro eine ganze Reihe handfester ökonomischer Argumente. Für die Stärke des Dollar sprechen die höhere Wachstumsdynamik und günstigere Entwicklungsperspektiven der amerikanischen Wirtschaft, die höhere wirtschaftspolitische Kompetenz der USA, ihre Erfolge bei der Haushaltskonsolidierung, die dort höheren Kapitalrenditen und die allgemeine Attraktivität des Standorts USA für Auslandskapital. Erst wenn Europa den Nachholbedarf auf diesen Gebieten aufgearbeitet hat, erscheint eine dauerhafte Stärkung des Euro-Außenwerts gegenüber dem Dollar ökonomisch plausibel.

Suggested Citation

  • Grömling, Michael, 2000. "Hintergründe der Euro-Abwertung," IW-Trends – Vierteljahresschrift zur empirischen Wirtschaftsforschung, Institut der deutschen Wirtschaft (IW) / German Economic Institute, vol. 27(3), pages 5-19.
    • Handle: RePEc:zbw:iwktre:156781
    DOI: 10.2373/1864-810X.00-03-01
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    References listed on IDEAS

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