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How Governments Privatize : The Politics of Divestment in the United States and Germany - Mark Cassell

How Governments Privatize

The Politics of Divestment in the United States and Germany

By: Mark Cassell, Barry G. Rabe (Editor)

Paperback

Published: 3rd April 2002
For Ages: 22+ years old
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Governments throughout the world confront enormous challenges when divesting. Whether it is poor-performing bank loans in Japan and Korea, military bases in the United States, or real estate in eastern Europe, the challenge of public divestment is more than just a question of how to map a path to economic efficiency. Conventional wisdom in public management and privatization literature says that the execution of such enormous tasks as divestment is typically done poorly, and that the government strategy is likely to be inefficient.

Mark Cassell argues that privatization must be understood as a political and administrative puzzle rather than simply an exercise in economic efficiency. This study of two successful divestment agencies - the U.S. Resolution Trust Corporation and the German Treuhandanstalt - presents a complex understanding of the two agencies' performance in privatizing hundreds of billions of dollars of assets following two very different crises, the savings and loan debacle in the United States and unification in Germany. In the U.S., the worst economic problem since the Great Depression forced the government to recreate and reshape private property on an immense scale. In Germany, melding East and West Germany involved converting an entire national economy that employed more than four million people. In each case, unassuming public agencies handled two of the largest public sales of assets in this century.

Cassell identifies the importance and effects of managerial structures and of national institutions - legislatures and executives - on the outcomes of the reform efforts.

This book will be of interest to those interested in alternatives to traditional public-sector structures, electoral connections to bureaucracies, comparative political economy, and the historic events of the aftermath of the savings and loan crisis and German unification. It is crucial reading for policy and public administration practitioners and scholars alike.

Cassell provides us with a rigorously detailed organizational study... In doing this he draws heavily on the public management literature, but Cassell seeks to extend this literature to an analysis of public/private hybrid agencies that, by some accounts, are becoming more common. Cassell's multilayered analysis is sophisticated and carefully thought out. He presents and contextualizes in clear form the myriad forces that undoubtedly shape the behavior of public agencies. Governance Offers thick case study in the sense that good soup is thick-full of juicy morsels... The description of the two agencies is riveting in the detail... what makes the book valuable is the care and detail with which the argument is documented and the vivid way the story is told... a rare comparative study of agency politics. Perspectives on Politics

List of Figures and Tablesp. viii
List of Abbreviationsp. x
Preface and Acknowledgmentsp. xiii
Prologuep. 1
Introduction: How the Resolution Trust Corporation and the Treuhandanstalt Managed the Sales of the Centuryp. 3
Bureaucratic Outputsp. 25
Personnel, Culture, and Organizational Structure: The Impact of Administrative Characteristics on the Performance of the RTC and THAp. 75
Structured Choices and Consequencesp. 131
The Impact of Task Environment on Performancep. 171
The Impact of National Institutional Environmentsp. 195
Strategic Bureaucracies and Their Consequencesp. 229
Interviewsp. 259
Referencesp. 267
Indexp. 293
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9781589010086
ISBN-10: 1589010086
Series: American Governance and Public Policy series
Audience: Professional
For Ages: 22+ years old
Format: Paperback
Language: English
Number Of Pages: 320
Published: 3rd April 2002
Publisher: Georgetown University Press
Country of Publication: US
Dimensions (cm): 22.9 x 15.2  x 2.18
Weight (kg): 0.49