G2TT
来源类型Discussion paper
规范类型论文
来源IDDP686
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
URLhttps://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.
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