The Fate of Deutschland AG

The notion of Deutschland AG refers to the interconnectedness of corporate ownership and control, particularly the relationships between banks and industry, which enabled the most powerful bankers and company managers to influence corporate decision-making throughout the economy…

Download Publication

The views expressed are those of the author(s) alone. They do not necessarily reflect the views of the American Institute for Contemporary German Studies.

Caroline Fohlin

Johns Hopkins University

Dr. Caroline Fohlin is Research Professor of Economics at Johns Hopkins University. Her research investigates how financial markets, institutions, and systems have developed around the world over the long run, and how the organization of financial intermediaries influences their performance and potentially impinges on economic growth. Her research demonstrates the idiosyncratic nature of financial development across countries and the feedback relationship between financial development and economic growth, and also reveals a wide range of financial systems that can successfully support economic development. She is currently studying the transformation of U.S. securities markets over the 20th century and creating the first comprehensive, high-frequency microstructure database for the NYSE and the Consolidated Stock Exchange for the period 1890-1925. In another study of financial innovation, she is researching the evolution and geography of specialized venture capital organizations after WWII. Her new book will be appearing soon: Mobilizing Money: How the World’s Richest Nations Financed Industrial Growth . Her 2007 book, Finance Capitalism and Germany’s Rise to Industrial Power, is being published in paperback.