- Elgar original reference
Edited by Jürgen G. Backhaus
Chapter 21: Structures of Public Enterprise
21 Structures of public enterprise Jürgen G. Backhaus One of the most fascinating developments in law and economics analysis is the possibility of subjecting public institutions to a scrutiny that allows an assessment of their performance. This entry ﬁrst gives an introduction to the basic approach and then details a law and economics-based performance analytic approach of public institutions such as public enterprises. Introduction As a consequence of the collapse of state socialism in Central and Eastern Europe, many countries found themselves with a large set of publicly owned entities which often imposed a considerable burden on the public budget. Hence governments designed different programmes to privatize these entities (which often could hardly be referred to as enterprises as they tended to display traits of bureaucracies) or at least to make them independent of public support. However, this task proved to be very difﬁcult. For instance, the performance of the authority charged in Germany with the privatization of the state socialist industry inherited from the defunct German Democratic Republic gives a mixed picture of what could be accomplished under the most favourable of circumstances. As Table 21.1 indicates, out of a total of almost 14 000 enterprises in East Germany, a mere 354 remained to be privatized in the autumn of 1994. But all the assets had been sold for a triﬂing Table 21.1 The Treuhand legacy 13 781 354 3701 $133.2 billion 1.4 million $41 million 2697 855 East German enterprises taken over Number still to...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.