Download or read book Privatization in Eastern Europe written by Roman Frydman and published by Central European University Press. This book was released on 1994-01-01 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Privatization in East European Transformation written by Stanley Fischer and published by . This book was released on 1991 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization of state assets is an essential step to the creation of a viable private sector in the formerly socialist economies of Eastern Europe and the Soviet Union. A standard approach to the problem has rapidly emerged. Small firms are being privatized by sale very rapidly. The strategy then turns to larger industrial firms, which are to be corporatized as soon as possible, moved out of the shelter of the ministries that now in principle control them, and put under the direction of corporate boards; at the next stage the intention is to distribute shares, through sale or free transfer, to some combination of current workers in the firms, current management, mutual funds, holding companies, banks, insurance companies, pension funds, citizens, and the government. I analyze the standard approach and alternatives, as well as progress in implementing privatization, with emphasis on Poland, Hungary, and Czechoslovakia. Progress in privatizing small firms has been rapid in several East European countries, but privatization of large firms has been slow, with most success to date in Hungary.
Download or read book Privatizing Eastern Europe written by J.M. Van Brabant and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Privatization in Eastern Europe written by Roman Frydman and published by . This book was released on 1994 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Privatization in the Transition to a Market Economy written by John S. Earle and published by Burns & Oates. This book was released on 1993 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Privatization in Central and Eastern Europe written by June G. Hopps and published by Bloomsbury Publishing USA. This book was released on 1998-08-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central and Eastern European countries are facing the transition from central to market systems with different strategies and capacities. As the task of societal transformation is without precedent in world history, the massive economic restructuring has revealed the need for distributive justice and general well-being. As the editors and contributors to this volume point out, the monolithic preoccupation with economic restructuring in a market economics framework is implemented at the expense of social protection and security. In contrast to traditional views of privatization as only an economic or managerial phenomenon, this collection approaches privatization as a broader integrated process of societal transformation. Privatization as defined here consists of integrated processes of societal restructuring that affect sociopolitical, economic, and ideological constructs as well as human and physical capital development, transformation of family structures, market stabilization, and organization of social care. Public policymakers as well as scholars and researchers of contemporary Eastern Europe will find this collection of great interest, and an important challenge to the economic models of privatization which undervalue social costs.
Download or read book Privatization and Entrepreneurship written by Erdener Kaynak and published by Routledge. This book was released on 2018-12-07 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Transition in Eastern Europe Volume 2 written by Olivier Jean Blanchard and published by University of Chicago Press. This book was released on 2007-12-01 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: When communism fell in 1989, the question for most Eastern European countries was not whether to go to a market economy, but how to get there. Several years later, the difficult process of privatization and restructuring continues to concern the countries of the region. The Transition in Eastern Europe, Volumes 1 and 2 is an analysis of the experiences of various countries making the transition to market economies and examines the most important challenges still in store. Volume 1, Country Studies, gives an in-depth, country-by-country analysis of various reform experiences, including historical backgrounds and discussions of policies and results to date. The countries analyzed are Poland, Czechoslovakia, Hungary, eastern Germany, Slovenia, and Russia. Written by leading economists, some of whom helped shape local and national reforms, this volume identifies common progress, common difficulties, and tentative solutions to the problems of economic transition. Volume 2, Restructuring, focuses on specific issues of transition, including how to design labor market institutions, privatization, new fiscal structures, and bankruptcy laws; how to reorganize foreign trade; and how to promote foreign direct investment. The articles, written by experts in the field, will be of direct help to those involved in the transition process. These volumes provide a standard reference on economic transition in the region for policymakers in Eastern Europe and in western countries, for international agencies concerned with the transition process, and for anyone interested in learning about the dramatic changes that have recently occurred in Eastern Europe.
Download or read book Privatization in Eastern European Transformation written by Stanley Fischer and published by . This book was released on 1991 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privatisation and Its Limits in Central and Eastern Europe written by H. Engerer and published by Springer. This book was released on 2001-06-18 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hella Engerer analyses the emergence, evolution and theory of property rights and establishes the limits for privatization of state owned enterprises in the transitional economies of Eastern Europe. She counters the assumption that reduction of the state sector helps to create the basis for a private property system, showing that privatization actually presupposes a stable framework including property order. She makes use of an outstanding methodological approach, reaching well beyond the limits of pure economic observation. This is a major contribution to the understanding of the emerging economic order of Central and Eastern Europe.
Download or read book The Privatization Process in East Central Europe written by Michal Mejstrík and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is beyond any doubt that East-Central European countries such as Czech Republic, Hungary, Poland and Slovakia has dramatically changed its shape through its radical transition from centrally planned to the market economies in last 7 years. Many economists divide the process of economic transformation into areas of Stabilization, Liberalization, and Privatization/Restructuring. The traditional view is that stabilization and liberalization can be achieved rather quickly-by balancing budgets, balance of payments, tightening money supply, freeing prices and liberalizing trade-but that the area of privatization is one that could be moved to the future and will require much more time. Until 1991, none of the post-communist nations except former East Germany (which had a large decree of support from West Germany) had succeeded in privatizing large numbers of enterprises, even though more than two years had passed since the changes in government in these nations. The privatization has been, however, seen as an extremely important part of reform package together with stabilization and liberalization especially in the Czech Republic from the very beginning. The Czechs originally as a part of the Czechoslovak Federal Republic embarked on an unprecedented path that should have lead not only to stabilization and liberalization, but also to very rapid, mass privatization of its sector of large enterprises that have dominated its economy to an extreme extent.
Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Jai. This book was released on 2008 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together contributions from a diverse group of authors each of whom have worked extensively on privatization and related reforms, such as restructuring and bankruptcy, in the transition economies of Central and Eastern Europe (CEE), the Commonwealth of Independent States (CIS), sometimes referred to as the Former Soviet Union, and South East Europe (SEE). A chapter on Chinese state enterprise reforms and privatization has been included in this volume due to China??'s importance economically and politically, its successful reform program to-date and its unique approach to reforms. The volume is largely a retrospective of the ten or so years of reform from 1990 to 2000, focused on privatization in the transition countries since the fall of the Berlin Wall, the peaceful revolutions in Poland and in then Czechoslovakia (now the Czech and Slovak Republics), the break-up of the Soviet Union and the formation of the Russian Federation. Most of the contributors to this volume worked closely with the leading reformers in Government during this period to assist them in designing and implementing their privatization programs. One of the contributors was directly involved in the process as a leading reformer in his country, as a Deputy Minister of Economy and as Director of its Privatization Agency. For the most part, sufficient time has passed to allow the authors to now treat their subject objectively. Serbia and China are unique in comparison to the other countries discussed in this volume, as their state enterprise reform and privatization programs are still on going. China started earlier than the other transition economies, but continue to the present time, due to what someanalysts have described as a more gradualist approach to reforms that the other transition economies. Serbia was a late reformer due to the break-up of Yugoslavia, the conflict in the region and its years of isolation. Also, Serbia had to deal with the legacy of socially owned enterprises, not state-owned enterprises as in the other transition economies. Serbia is now in the process of trying to determine how to wind-up its program. While the volume is primarily a retrospective, the overview chapter provides lessons learned on banking and infrastructure reforms and the concluding chapter on lessons learned is forward looking. There is still much to do in many of these countries, especially in the CIS and SEE, the Asian transition economies such as Viet Nam and eventually in North Korea and Cuba. The concluding chapter draws concrete lessons from the earlier experience that could be of value to these countries. As such, this volume is a unique contribution to the current academic literature on the transition economies and on privatization. *Original articles by experts on their subjects *One of the contributors was directly involved in the process as a leading reformer in his country
Download or read book Restructuring and Privatization in Central Eastern Europe written by Saul Estrin and published by Routledge. This book was released on 2020-11-30 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents cases from a World Bank study of state-owned industrial firms in Poland, Hungary and the Czech and Slovak republics. Topics that are covered include: structure of the industry; history of the firm; and product mix and sales pattern.
Download or read book A New Capitalist Order written by Hilary Appel and published by University of Pittsburgh Press. This book was released on 2010-06-15 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the collapse of communism in the Soviet Union and eastern Europe, more than a dozen countries undertook aggressive privatization programs. Proponents of economic reform championed such large-scale efforts as the fastest, most reliable way to make the transition from a state-run to a capitalist economy.The idea was widely embraced, and in the span of a few years, policymakers across the region repeatedly chose an approach that distributed vast amounts of state property to the private sector essentially for free-despite the absence of any historical precedent for such a radical concept. But privatization was not a panacea. It has, instead, become increasingly synonymous with collusion, corruption, and material deprivation.Why was privatization so popular in the first place, and what went wrong? In answering this question, Hillary Appel breaks with mainstream empirical studies of postcommunist privatization.By analyzing the design and development of programs in Russia, the Czech Republic, and across eastern Europe, Appel demonstrates how the transformation of property rights in these countries was first and foremost an ideologically driven process. Looking beyond simple economic calculations or pressure from the international community, she argues that privatization was part and parcel of the foundation of the postcommunist state.A New Capitalist Order reveals that privatization was designed and implemented by pro-market reformers not only to distribute gains and losses to powerful supporters, but also to advance a decidedly Western, liberal vision of the new postcommunist state. Moreover, specific ideologies-such as anticommunism, liberalism, or nationalism, to name but a few-profoundly influenced the legitimacy, the power, and even the material preferences of key economic actors and groups within the privatization process.
Download or read book Industrial Policy in Eastern Europe written by J.M. Van Brabant and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume in essence continues my recent contributions towards building up a better understanding of the wide range of obstacles besetting the transitions away from administrative planning in the former communist regimes in the eastern part of Europe. It is self-contained, however. As such, it specifically addresses issues revolving around how best to govern economies, and indeed societies more generally, that are undergoing fundamental structural transfor mation, and whether industrial policy can facilitate progressing with the vexing transformations that will have to be enacted over a protracted period of time. Because of the bewildering variety of hindrances that the managers of the transition have been confronted with, many of which were not even contem plated when the programs were first designed, regaining a measure of good governance, including notably good economic governance, is critical in formu lating a positive pOlitical economy of transition. Arguably most critical is steering the processes of destruction and creation-not 'creative destruction' in the Schumpeterian sense. In some cases, this requires reallocating decom missioned resources, both capital and labor, to new activities. Changing rules on the utilization of existing assets is evidently at the core of what the transi tion towards market-based economic systems should be all about Very often, however, this requires establishing new economic activities from domestic and foreign savings.
Download or read book The Transition in Eastern Europe written by Blanchard, Olivier J. Blanchard and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Time to Rethink Privatization in Transition Economies written by John R. Nellis and published by World Bank Publications. This book was released on 1999-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.
