Die Privatisierungspolitik der Treuhandanstalt
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Die Privatisierungspolitik der Treuhandanstalt
Eine ökonometrische Analyse
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 115 (1995), Iss. 3 : pp. 393–428
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Lucke, Bernd
Abstract
The privatization policies of the Treuhandanstalt in its efforts to denationalize East German enterprises is evaluated econometrically using internal Treuhand data. Using present value restrictions a simple theoretical model implies testable implications on the signs of the regression coefficients. Private investors will, in particular, never be bound by both their investment and their job creation pledge. Least squares and a robust least absolute residuals estimation yield results which are basically in accord with the theoretic requirements. The estimated coefficients suggest that the Treuhandanstalt successfully initiated growth impulses, but at high costs to the overall economy.