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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP686 |
DP686 Some Lessons from Economic Transformation in East Germany | |
Peter Bofinger; Ivan Cernohorsky | |
发表日期 | 1992-06-30 |
出版年 | 1992 |
语种 | 英语 |
摘要 | The paper compares the experience with shock therapies in East Germany, Poland and the CSFR. After an analysis of the individual starting conditions and economic performance since the inception of comprehensive reform programmes it focuses on the specific elements of the East German reform strategy. It shows that the short-term impact of huge transfers from West to East Germany was not necessarily positive for East German firms. It identifies the lack of incomes policies as a major flaw in the East German transformation concept. On the positive side the rapid restructuring of the East German financial sector allowed it to overcome the inefficiencies that characterize the banking systems nd enterprise finance in Poland and the CSFR. In addition, with the Treuhand it was possible to establish a functioning principal-agent relation between the government as the owner of state-owned firms and the management of these firms, which is completely absent in Poland and the CSFR. That explains why these two countries were not able to benefit much more from their enormous wage advantage over the former GDR. |
主题 | International Macroeconomics |
关键词 | German unification Stabilization Transition of socialist economies Treuhandanstalt Wages |
URL | https://cepr.org/publications/dp686 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529835 |
推荐引用方式 GB/T 7714 | Peter Bofinger,Ivan Cernohorsky. DP686 Some Lessons from Economic Transformation in East Germany. 1992. |
条目包含的文件 | 条目无相关文件。 |
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