Privatization in Eastern Germany

A Neo-Institutional Analysis

Herbert Brücker

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English

Routledge
31 March 1997

Development economics; International business; Privatisation

This book gives the first comprehensive analysis of privatization and restructuring by the Treuhandanstalt in East Germany. It also addresses the theoretical and conceptual problems of large-scale privatization in the transformation process. Contrary to many transition economies, the East German privatization approach was based on the sale of state-owned companies to strategic investors under the constraint of a mixed set of allocative criteria, including employment and investment objectives. In order to achieve these objectives, the Treuhandanstalt frequently granted huge subsidies to private investors. This required the negotiation and enforcement of complex contracts. Their approach encountered widespread criticism in the public as well as the academic literature. The author's study first discusses the effects of

different privatization procedures in transition economies on the allocation and distribution of property rights, using

the framework of the neo-institutionalist approach. Second,

it investigates the privatization strategy of the Treuhandanstalt under the specific macroeconomic and institutional conditions of German unification. Finally, it analyses the problems of the agreement and enforcement of employment

and investment objectives in privatization contracts under incomplete information, based on a game-theoretical model.

By: Herbert Brücker
Imprint: Routledge
Country of Publication: United Kingdom
Volume: No. 8
Dimensions: Height: 229mm, Width: 152mm, Spine: 17mm
Weight: 430g
ISBN: 9780714643359
ISBN 10: 0714643351
Pages: 298
Publication Date: 31 March 1997
Audience: College/higher education , General/trade , Professional & Vocational , Primary , ELT Advanced
Format: Paperback
Publisher's Status: Active

Herbert Brücker