The Halle Institute for Economic Research (IWH) – Member of the Leibniz Association was founded in 1992. With its three research departments – Macroeconomics, Financial Markets as well as Structural Change and Productivity –, the IWH conducts economic research and provides economic policy recommendations which are founded on evidence-based research. The institute studies transition-related economic issues in East Germany as well as in Central and Eastern Europe and the ongoing process of economic integration in Europe. With the IWH’s guiding theme “From Transition to European Integration”, the institute’s research covers economic convergence processes and international economic integration. Research focuses on macroeconomic dynamics and stability, transformation of institutions, microeconomic innovation processes and the role of financial markets for the real economy.