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| Author: | Dyck, A. |
| Title: | Privatization in Eastern Germany: Management selection and economic transition |
| Journal: | American Economic Review
1997 : SEP, VOL. 87:4, p. 565-597 |
| Index terms: | ECONOMICS PRIVATIZATION GERMANY, EAST |
| Language: | eng |
| Abstract: | This paper suggests that management's role in enterprise restructuring and market failures in the managerial labour market help explain important features of the German privatization program. A model of adverse selection based on information advantages for private owners demonstrates how privatisation can improve the quality and number of western managers in eastern enterprises. These benefits can increase with the size of the transition. |
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