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Author: Roman Frydman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 246
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Book Description
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: Roman Frydman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 246
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Book Description
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: Petar Sarcevic
Publisher: Aspen Publishers
ISBN: 9781853337130
Category : Law
Languages : en
Pages : 239
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Book Description
The large-scale efforts to privatize the economies of the former socialist countries of Central and Eastern Europe may constitute the major economic undertaking of the decade. This book focuses on the process of privatization taking place in these countries, in particular on the transfer of state or socially-owned enterprise to private hands. The seven eminent contributions from central and eastern Europe deal with the following and other questions: Should nationalized property be returned to its former owners or do they have the right to claim compensation? Should part of an enterprise's wealth accumulated under state ownership be distributed to the workers of that enterprise or even to all citizens of that country? Should the transformation from a state or socially-owned enterprise to a private enterprise occur gradually or is quick large-scale privatization more effective? Which company forms prevail in recently adopted legislation? How are state or socially-owned enterprises valued and sold? How can foreign investors participate in the privatization process?
Author: Roman Frydman
Publisher: Central European University Press
ISBN: 9633864917
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
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: Manuel Hinds
Publisher: World Bank Publications
ISBN:
Category : Post-communism
Languages : en
Pages : 27
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Book Description
Insights into the major task of privatization facing Eastern European countries: about the key decisions to be made and about such important issues as whether to sell state enterprises or give them away (and to whom and in what sequence).
Author: Erdener Kaynak
Publisher: Routledge
ISBN: 1135840199
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
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: Demetrius S. Iatridis
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
These essays examine how privatization in Central and Eastern Europe is perceived and implemented showing how economic reform is pursued at the expense of social welfare.
Author: J.M. Van Brabant
Publisher: Springer Science & Business Media
ISBN: 9401128340
Category : Business & Economics
Languages : en
Pages : 343
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Book Description
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: H. Engerer
Publisher: Springer
ISBN: 0230523005
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
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.
Author: European Association for Comparative Economic Studies
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
Provides analysis of the impact of privatization on the economic performance of companies in Central and Eastern Europe. After considering theoretical issues, contributors provide an in-depth examination of corporate governance and company performance in advanced market and transition economies. A statistical and econometric analysis of extensive company-level data and interviews from a large number of firms between 1990 and 1997 is conducted to discover major factors in changing economic performance. The editor is affiliated with the Hungarian Academy of Sciences. Annotation copyrighted by Book News, Inc., Portland, OR
Author: Andrew Harrison Schwartz
Publisher: Rowman & Littlefield Publishers
ISBN: 1461645158
Category : History
Languages : en
Pages : 379
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Book Description
With the dissolution of the Soviet Empire, it seemed that market capitalism had triumphed and that democracy might replace authoritarian regimes. Economic reformers in the former Eastern Bloc rushed to liberalize prices and transfer state assets to private hands. They assumed that private owners in a market setting would have no choice but to behave rationally—that is, to invest in restructuring privatized enterprises so as to maximize profits. They also assumed that these owners would perceive a stable institutional environment as conducive to economic success and thus become a powerful lobby in favor of the rule of law, paving the way for democracy. The post-communist reality turned out to be very different. Private owners found that in a weak state with limited laws and regulations and ineffective corporate governance structures, it was more lucrative to steal enterprise assets and exploit opportunities for arbitrage than to restructure enterprises. The lesson learned is that not all forms of private ownership are the same. As this book's in-depth political history of privatization in Central and Eastern Europe demonstrates, the way that assets are privatized matters, both with respect to national economic performance and the successful development of the rule of law. Andrew Harrison Schwartz had unprecedented access to high-level Czech government officials during the Czech Republic's privatization process. This book is the result of the unique insights he gained and the innovative analytical framework he subsequently developed—ownership regime theory—which for the first time places ownership structures at the center of political transition analysis. Engaging and important, The Politics of Greed applies ownership regime theory to a broad range of post-communist privatization cases, including those of the Czech Republic, Poland, Hungary, Russia, and Ukraine.
