search query: @indexterm Germany, east / total: 64
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| Author: | Kettler, H. |
| Title: | The emergence of concentrated ownership structures in East Germany: the implications for enterprise restructuring |
| Journal: | Review of Political Economy
1997 : APR, VOL. 9:2, p. 117-150 |
| Index terms: | GERMANY, EAST ENTERPRISE POLITICAL ECONOMY |
| Language: | eng |
| Abstract: | In the transitional economies of East and Central Europe, privatization is widely considered essential for transforming the large state-owned enterprises. However, eager to expose the public enterprises to "hard budget constraints", the economists have neglected the importance of who the owners are. Studies of ownership structures and post-privatization restructuring in East Germany provide evidence that ownership matters for transformation success. The adoption of West German institutions in the east and the sale of state industrial property in concentrated shares to "insider" investors seem to have created good conditions for the long-term committed investments essential for the rebuilding of tangible and intangible assets in East German enterprises. |
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