[PDF] Privatizing Eastern European Economies eBook

Author : Roman Frydman
Publisher : Central European University Press
Page : 239 pages
File Size : 50,10 MB
Release : 1994-01-01
Category : Business & Economics
ISBN : 9633864917

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In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.

Author : Roman Frydman
Publisher :
Page : 246 pages
File Size : 44,36 MB
Release : 1994
Category : Business & Economics
ISBN :

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The creation of new economic and legal mechanisms to replace the fallen communist systems of Eastern Europe must surely count as one of the greatest organizational challenges of this century, and economists and politicians alike are constantly grappling with the enormity of the transformation to be achieved. In this volume, the authors give an in depth explanation of their now widely adopted approach to 'privatizing privatization' and chart the evolution of their thinking, particularly in reaction to real events and prevailing conditions. Expanding on the theme of transferring ownership to the private sector through a system of free vouchers and independent intermediaries, Professors Frydman and Rapaczynski address the dangers of bureaucratization and the delicate balance between the evolutionary elements and imposed regulations that must be achieved to make the transition a success. The perfect companion volume to The Privatization Process in Central Europe, this collection of essays provides a brilliant explanation of the most widely accepted theory of privatization in Eastern Europe today.

Author : J.M. Van Brabant
Publisher : Springer Science & Business Media
Page : 343 pages
File Size : 24,16 MB
Release : 2012-12-06
Category : Business & Economics
ISBN : 9401128340

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This volume is meant to be a modest contribution to the ongoing debate about the transitions away from the administrative planning environment typical of the former communist regimes. The central subject matter is a fairly special one, namely the privatization of these economies together with the restoration and effective monitoring of property rights. These are paramount tasks of the ongoing transformations once progress toward pOlitical democracy is secured. Though I would not allot divestment of existing state-owned assets the kind of pivotal importance that some observers reserve for it, changing rules on the utilization of these assets is evidently at the core of what the transition toward market-based economic systems should be all about. Rather than examining the entire range of issues that surround the controvery on privatization, this volume is primarily concerned with the economics of taking the state out of the decision making about existing assets. Among the several aspects of this discussion three stand out. One is the establishment of clear property rights. This is fundamental to minimize trans action costs in an environment where decisions will increasingly be taken by independent economic agents acting on their own account. Second, I look only incidentally at the various angles of creating capital markets, particularly for existing assets, in these economies.

Author : Iván Major
Publisher : Edward Elgar Publishing
Page : 184 pages
File Size : 23,2 MB
Release : 1993
Category : Business & Economics
ISBN :

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The task of turning the state-owned assets of the Eastern European countries over to private ownership is one of the most challenging of our time, both intellectually and in practical terms. Ivan Major's in-depth critique of the plans and programmes of the East European governments addresses the core issues of privatization from the perspective of both potential winners and losers. After discussing the analytical framework, he offers an assessment of the legacy of the command economy and includes individual country studies of Czechoslovakia, the former GDR, Hungary, Poland and the former Soviet Union. The following chapters look at the theoretical, political and economic underpinning as well as assessments of the initial results of East European privatizations. Dr Major argues that the whole network of political regulation must be dismantled if an efficient market economy is to emerge. Privatization in Eastern Europe offers a critical analysis of the movement towards privatization in Eastern Europe as well as an authoritative assessment of the existing literature. This book will be welcomed by scholars and policymakers as an important source of analysis, argument and information.

Author : Zeljko Bogetic
Publisher :
Page : 0 pages
File Size : 25,85 MB
Release : 2011
Category :
ISBN :

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Two years after the Polish "Big Bang," privatization In Eastern Europe, the cornerstone of transition, has been progressing at a slow pace which frustrates many reformers in these countries. Notwithstanding the considerable growth of private firms from new entry, the relative number of privatized large firms and/or their share in the value added remain modest. The tardiness of the process has been aggravated by the poor performance of these economies, and this has led to calls for increased government Intervention which in turn may diminish the likelihood of privatization in the future. As a result, there is a growing realization that the speed of privatization needs to be increased in order to avoid the "transition trap": a situation where the economy is stuck with essentially unchanged overall structure of ownership and a corresponding lack of incentives. This paper reviews privatization plans as they have been implemented in several Eastern European countries ( i.e., Bulgaria,Czech and Slovak republics, the former East Germany, Hungary, Poland and Russia) and attempts to draw some lessons which may be useful for other transitional economies which are presently in earlier stages In the privatization process. We argue that programs which are not either highly centralized (as in the former East Germany) or highly decentralized (an approach which is as yet untried) cannot provide the speed to avoid the "transition trap." While the latest wave of new mass privatization plans, which emphasize vouchers and mutual funds, are often regarded as decentralized approaches we argue that this is not the case and that these plans may not succeed where previous approaches have failed. The lessons from the critical review are integrated into a specific privatization proposal which is flexible enough to be applicable to a wide range of countries and initial conditions. A country can choose the degree to which it wishes to pursue this approach from the almost complete reliance on It to using It as a complementary method to other forms of privatization. The approach has merits both from the perspective of short run and long run efficiency. In the short run, privatization is achieved quickly, and correct incentives are put into place so that the transitional economies can achieve a high level of productivity growth in the post-privatization years.

Author : Hans Smit
Publisher : Martinus Nijhoff Publishers
Page : 263 pages
File Size : 50,28 MB
Release : 2023-09-20
Category : Business & Economics
ISBN : 9004637974

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A hands-on approach to the privatization process in Eastern Europe, divided into the following categories: - Guidelines for Foreign Purchasers of State Enterprises - A Business Survival Guide for Getting Things Done in Kiev - Critical Challenges of Capital Formation - The Greenfield Approach to Privatization - Vouchers and their Practical Use - Detailed Analysis of the Particulars of the Privatization Procedures in Russia, Ukraine, Poland, the Czech Republic and Slovakia, and Hungary. Furthermore, Privatization in Eastern Europe includes a list of all privatization laws

Author : Mr.Eduardo Borensztein
Publisher : International Monetary Fund
Page : 28 pages
File Size : 50,97 MB
Release : 1991-04-01
Category : Business & Economics
ISBN : 1451977905

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This paper discusses several proposals for a wholesale privatization of public enterprises in Eastern Europe. These proposals include the distribution of ”vouchers” to private citizens as well as the use of mutual funds, privatization companies and other forms of financial intermediaries. The paper analyzes the implications for economic efficiency of the different forms of ownership and control that would emerge from the proposals as well as their main macroeconomic consequences.

Author : Erdener Kaynak
Publisher : Routledge
Page : 410 pages
File Size : 11,17 MB
Release : 2018-12-07
Category : Business & Economics
ISBN : 1135840199

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Privatization and Entrepreneurship: The Managerial Challenge in Central and Eastern Europe analyzes the challenges faced by managers in the transforming economies of Central and Eastern Europe and provides penetrating insights into the details of managing in the former socialist countries. This collection’s combination of conceptual/theoretical material with empirical, firsthand case analysis prepares Western managers for a more profitable and less stressful entry into these significant markets. This enlightening book highlights the complexity and breadth of the issues and problems of successfully entering new markets in Central and Eastern Europe. Along the way, you are introduced to such topics as consumer behavior and shown the different forms of foreign direct investment with their associated problems and benefits. If you are searching for ways to better prepare for business in these markets, this book can help you meet your objectives with its helpful information on: ethical concerns and linguistic difficulties of managing in transforming economies management challenges of privatization management challenges of entrepreneurship strategic issues associated with the reorientation of enterprises corporate constituencies, changing consumers, labor unions, and pay practices Privatization and Entrepreneurship will prove valuable to policymakers in economic development and foreign aid agencies, executives of companies planning to expand into Europe and those already active in the region, and academicians and students in management, economics, and political science.

Author : Hans Smith
Publisher : Martinus Nijhoff Publishers
Page : 272 pages
File Size : 38,20 MB
Release : 1994-07-05
Category : Law
ISBN : 9780792326687

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A hands-on approach to the privatization process in Eastern Europe, divided into the following categories: - Guidelines for Foreign Purchasers of State Enterprises - A Business Survival Guide for Getting Things Done in Kiev - Critical Challenges of Capital Formation - The Greenfield Approach to Privatization - Vouchers and their Practical Use - Detailed Analysis of the Particulars of the Privatization Procedures in Russia, Ukraine, Poland, the Czech Republic and Slovakia, and Hungary. Furthermore, "Privatization in Eastern Europe" includes a list of all privatization laws.

Author : John S. Earle
Publisher : Burns & Oates
Page : 240 pages
File Size : 13,25 MB
Release : 1993
Category : Business & Economics
ISBN :

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Privatization policies are the centrepiece of the historically unique transformation of the centrally planned, into market economies. Yet the peculiarities of the privatization process in Eastern Europe are little understood in the West because of differences in historical, socio-political and economic contexts relative to Western experience. Most research on privatization in the West is rather theoretical and thus pays insufficient attention to these contexts, perhaps because their importance is not widely appreciated and because there has been little information about them available. Moreover, the significant differences among East European countries in contexts and in policies are not well-understood even within the region, again because of a lack of information.