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A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real incomes in the east have now reached the western level, and investment per capita has been much higher than in the w est. However, every third deutschmark spent in the east has been...
Persistent link: https://www.econbiz.de/10009781521
lackluster economic performance? This paper points to the rushed privatization of East European economies as one plausible driver …
Persistent link: https://www.econbiz.de/10013418954
within less than five years. We examine whether the privatization authority followed its mandate to privatize competitive … investors, and are more likely to remain in business even 20 years after leaving public ownership. The privatization agency …
Persistent link: https://www.econbiz.de/10012287328
We extend the literature on transition economies' wage structures by investigating the returns to tenure and experience. This study applies recent panel data and estimation approaches that control for hitherto neglected biases. We compare the life cycle structure in East and West German wages...
Persistent link: https://www.econbiz.de/10003806001
Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...
Persistent link: https://www.econbiz.de/10008697086
A major theme in accounts of the transitional recession and delayed convergence in post-communist economies is the role of institutions. Yet via unification, East Germany had immediate access to credible, high quality institutions. This paper argues that success in a capitalist economy depends...
Persistent link: https://www.econbiz.de/10008697420
The purpose of this paper is to evaluate the efficiency of the East German economy at the firm level using an unbalanced panel over the transition period 1994 to 1998. We adopt a translog stochastic frontier model to estimate technical efficiency in eastern and western Germany. The results...
Persistent link: https://www.econbiz.de/10009780206
The paper sets up a two-region endogenous growth model to discuss growth and regional convergence of unified Germany. It emphasises the role of private and public capital accumulati on during the developing process. The theoretical part derives fiscal policy rules which establish convergence of...
Persistent link: https://www.econbiz.de/10009781701
investigates a unique policy designed to maintain employment during the privatization of East German firms after the fall of the …
Persistent link: https://www.econbiz.de/10014340125
This paper describes the privatization program in Italy during the 1990s and puts that policy in the context of … attempts at privatization of the 1980s, delaying until 1992 the start of largescale privatizations. These were imposed on … analysis of the consequences of privatization on corporate governance show that, notwithstanding considerable changes in the …
Persistent link: https://www.econbiz.de/10011507688