GERMANY: COORDINATED FEDERAL STRUCTURE

• Highly coordinated federal organization of industrial policy: Chancellor's office, the Bundesbank, the ministries of Finance, Economics, and Research and Technology, the Council of Economic Experts, the Federal Cartel Office, the regional governments, and the university system.



• The Bundesbank maintains a monopoly over monetary policy.



• The ministries have control over fiscal policy and have historically been conservative (especially under the direction of Ludwig Erhard, Germany's post-war economic architect).



• The regional governments use their regional banks for development purposes.



• The universities serve as instruments of research and development policy.