Abstract
At the end of 1994 the Treuhandanstalt closed its doors. In less than four years it had officially completed its task of helping transform the East German economy from a centrally planned system into a decentralized market economy. The incredible speed with which the privatization of the East German economy was carried out has no historical precedent. Neither the previously most comprehensive Chilean privatization, which reversed the nationalizations of the Allende government, nor the major privatization programmes undertaken by the Thatcher government in Britain had succeeded in pushing through their privatization programmes as quickly as the Treuhand,1 which had been established only in 1990.
I gratefully acknowledge the comments of the editor and an anonymous referee and also of Juli Leßmann who not only translated the chapter but helped with her advice.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
BMWI (1994) Informationen from 18 August 1994, Bonn.
Burda, M. and M. Funke (1995) ‘Eastern Germany — Can’t We Be More Optimistic?’, ifo Studien — Zeitschrift für empirische Wirtschaftsforschung, no. 3, Munich.
Cornelsen, D. (1991) ‘Privatization — The Example of East Germany’, unpublished paper given at WEFA Group International Economic Outlook Conference on Eastern Europe and the Soviet Union in Berlin from 22 to 26 April 1991.
Deutsche Bundesbank (1995) Monatsberichte, no. 3, March 1995, Frankfurt.
European Bank for Reconstruction and Development (1994) Transition Report (London).
Guzek, M. (1995) ‘Privatization in Poland’, in J. Hölscher et al. (eds), Bedingungen ökonomischer Entwicklung in Zentralosteuropa (Marburg: Metropolis).
Harberger, A. (1992) ‘Strategies for the Transition’, in C. Clague and G.C. Rausser (eds), The Emergence of Market Economies in Eastern Europe (Cambridge, Mass. and Oxford: Blackwell).
Kantzenbach, E. (1992) ‘Von der Plan- zur Marktwirtschaft — Eine Zwischenbilanz, Initiierung des Wettbewerbs’, in B. Gahlen and H. Hesse (eds), Von der Plan- zur Marktwirtschaft — Eine Zwischenbilanz (Tübingen: J.C.B. Mohr (Paul Siebeck).
Mieth, W. (1994): ‘Die Wachstums schwäche des verarbeitenden Gewerbes in Ostdeutschland und ihre Folgen’, Regensburger Discussion Paper Series in Economics, No. 262.
Müller, J. (1993): ‘Strukturelle Auswirkungen der Privatisierung durch die Treuhandanstalt’, in W. Fischer et al. (eds), Treuhandanstalt — Das Unmögliche wagen, (Berlin: Akademie).
Newbery, D. (1991) ‘Sequencing the Transition’, in H. Siebert (ed.), The Transformation of Socialist Economies (Tübingen J.C.B. Mohr (Paul Siebeck)).
Quaisser, W. (1992) ‘Die polnische Wirtschaftsentwicklung im Jahre 1991/92’, Working Paper No. 153, East European Institute (Osteuropa-Institut), Munich.
Roesler, J. (1993) ‘Die Treuhandanstalt: Wirtschaftsimperium oder Politikinstrument?’, in R. Liedtke (ed.), Die Treuhand und die zweite Enteignung der Ostdeutschen (Munich: Spangenberg).
Schmörgernova, B. (1995) ‘Privatization in the Czech Republic and in the Slovak Republic’, in J. Hölscher et al., (eds), Bedingungen ökonomischer Entwicklung in Zentralosteuropa (Marburg: Metropolis).
Schöb, R. (1996) ‘Kreditrationierung und Treuhandpolitik’, Jahrbücher für Nationalökonomie und Statistik 215 (Tübingen:).
Sinn, G. (1994) ‘Politikversagen bei der wirtschaftlichen Vereinigung’, in Institut für Wirtschaftsforschung Halle (ed.), Wirtschaft im Systemschock (Berlin: Analytica).
Sinn, G. and H.-W. Sinn (1993) Kaltstart — Volkswirtschaftliche Aspekte der deutschen Vereinigung, 3rd rev. edn (München Beck) (English edition: Jumpstart Cambridge, Mass. and London: MIT Press).
Sinn, H.-W. (1995) ‘Schlingerkurs — Lohnpolitik und Investitionsförderung in den neuen Bundesländern’ in G. Gutmann (ed.), Conference Papers on the Annual Meeting 1994 of the German Economic Society (Verein für Socialpolitik) (Berlin: Jena, Duncker & Humblot).
Treuhandanstalt (1995) Abschluβstatistik zum 31.12.1994 (Berlin: Bundesanstalt für vereinigungsbedingte Sonderausgaben).
Vickers, J. and G. Yarrow (1988) Privatization — An Economic Analysis MIT Press).
Walters, A. (1990) ‘How Fast Can Market Economies be Introduced?’, European Business Forum, Financial Times Conference, 26–27 Novembers, Rome.
Walters, A. (1992) ‘The Transition to a Market Economy’, in C. Clague and G.C. Rausser (eds), The Emergence of Market Economies in Eastern Europe (Cambridge, Mass. MA and Oxford: Blackwell).
Wegner, M. (1995) Bankrott und Aufbau — Ostdeutsche Erfahrungen (Baden-Baden Nomos).
Winiecki, J. (1992) ‘Privatization in East-Central Europe: Avoiding Major Mistakes’, in C. Clague and G.C. Rausser (eds), The Emergence of Market Economies in Eastern Europe Cambridge, Mass. and Oxford: Blackwell).
Wölfling, M. (1994) ‘Nachholende Modernisierung in der ostdeutschen Industrie — das Beispiel Sachsen-Anhalt’, in Institut für Wirtschaftsforschung Halle (ed.), Wirtschaft im Systemschock (Berlin, Analytica).
Editor information
Editors and Affiliations
Copyright information
© 1998 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Sinn, G. (1998). The Sales Policy of the Treuhandanstalt as a Privatization Strategy. In: Sørensen, P.B. (eds) Public Finance in a Changing World. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14336-8_11
Download citation
DOI: https://doi.org/10.1007/978-1-349-14336-8_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-14338-2
Online ISBN: 978-1-349-14336-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)