Analyses the role of the Treuhand in promoting inward foreign direct investment, labour productivity and employment in the former East Germany. Argues that the Treuhand should concern itself not only with privatization but also with restructuring of the firms on its books. In the absence of restructuring, privatization may only mean a mere transfer of ownership without any improvement in the productive efficiency of the firms. Concludes by arguing that the Treuhand should promote management contracts between foreign firms and the firms on its books with a view to enhancing the managerial and productive efficiency of the firms.
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