SFB 303 Discussion Paper No. A - 531
Author: Bös, Dieter
Title: The Treuhand - A Never-Ending Story
Abstract: In this paper we first investigate the Treuhand's
responsibility for the east-German unemployment and for the
total German public debt. We scrutinize the particular Treuhand
policies which lie at the root of these two major burdens of
the German future. Then we turn to the day-to-day activities of
the Treuhand's successor companies, beginning with the BVS and
its many problems with contract management and liquidations of
non-viable enterprises. We state that the so-called management
limited partnerships are an economic disaster, whereas the
management buy-outs and buy-ins do much better than originally
expected. Finally, we deal with the privatization of land and
forests, and of houses and industrial reality. We note that
these fields of privatization will continue for quite some
time.
Keywords: Privatization, East Germany, Treuhandanstalt
JEL-Classification-Number: L 33
Creation-Date: September 1996
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