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Privatisation of the Industrial Sector: The Function and Activities of the Treuhandanstalt

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  • Priewe, Jan

Abstract

The German Treuhandanstalt responsible for more than 12,000 East German firms has almost finished the world's fastest mass privatization by mid 1993. However, the results are gloomy; more than 60 percent of all workplaces under Treuhand regime were lost, deindustrialization took place, and the fiscal burden of the privatization agency will amount to DM 250bn in 1994, not including social costs. The article provides a critical review of the Treuhand strategy, the results, successes, and shortcomings of three years of intensive Treuhand activities 1990-93. An alternative strategy with a lower speed of privatization, emphasis on pre-sale restructuring and active industrial policy would have led to less unfavorable results. Copyright 1993 by Oxford University Press.

Suggested Citation

  • Priewe, Jan, 1993. "Privatisation of the Industrial Sector: The Function and Activities of the Treuhandanstalt," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 17(3), pages 333-348, September.
    • Handle: RePEc:oup:cambje:v:17:y:1993:i:3:p:333-48
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    Cited by:

    1. Cassell, Mark K., 1996. "The Treuhandanstalt, privatization and the role of the courts," Discussion Papers, Research Unit: Economic Change and Employment FS I 96-316, WZB Berlin Social Science Center.
    2. Reinhold Kosfeld & Christian Dreger & Hans-Friedrich Eckey, 2008. "On the stability of the German Beveridge curve: a spatial econometric perspective," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 42(4), pages 967-986, December.
    3. Marija Beg & Martina Basarac Sertic & Ivo Druzic, 2017. "Determinants of Deindustrialisation in Developed European and Post-Communist Countries," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 13(2), pages 93-106.
    4. Hau, Harald, 1998. "Privatization under political interference: Evidence from Eastern Germany," European Economic Review, Elsevier, vol. 42(7), pages 1177-1201, July.
    5. repec:mje:mjejnl:v:12:y:2017:i:2:p:93-106 is not listed on IDEAS

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