Berlin became one of the largest and most advanced industrial centers in Europe after 1870. After 1900 the Berlin banking district became a major continental financial center and was home to a number of prominent banks. After the end of World War II in 1945 and the subsequent political divisions, the city's location inside of East Germany led to an exodus of many major firms to West Germany. Berlin's economy has been affected through the years by the city's changing geopolitical fortunes from 1961-1989. The city stagnated economically during the Cold War, when West Berlin was isolated geographically and East Berlin suffered from poor economic decisions made by East Germany’s socialist central planners.