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Author: Michal Mejstrík
Publisher: Springer Science & Business Media
ISBN: 1461563518
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
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.
Author: Michal Mejstrík
Publisher: Springer Science & Business Media
ISBN: 1461563518
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
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.
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.
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: Roland Schönfeld
Publisher:
ISBN:
Category : Europe, Eastern
Languages : en
Pages : 228
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Book Description
Author: Roman Frydman
Publisher: Central European University Press
ISBN: 9633865026
Category : Business & Economics
Languages : en
Pages : 278
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Book Description
In this work, comprehensive comparative information on five Central European countries has been collected by teams of researchers from both within the region and from the West. Following an introduction to the economic environment in each country, it provides an overview of the privatization process, including an account of the legal framework of ownership, institutions for state regulation, an overview of privatization programmes and the initial transformation of enterprises. A key feature of the book is the authors' access to hitherto unavailable information and their ability to present a vast amount of material in an easily available format. Aimed at policy makers and business people, the work should provide a strong foundation for future research.
Author: Guillermo de la Dehesa
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 48
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Book Description
Author: Farid Dhanji
Publisher: World Bank Publications
ISBN:
Category : Europe, Eastern
Languages : en
Pages : 33
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Book Description
The privatization process must be seen as transparent and absolutely above reproach and the rules of the "market" game must be clearly enunciated and adhered to in divestitures. Improvements in economic performance will be considerably diluted if the new market economy is based on an extensive network of special privileges.
Author: Mario Baldassarri
Publisher: Springer
ISBN: 1349230901
Category : Business & Economics
Languages : en
Pages : 273
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Book Description
Privatising firms and liberalizing their market environment generates in Eastern Europe a variety of problems, many of which are not common to the analogous attempts in industries countries. A first difference between the two experiences resides in establishing the value of the firm or of the assets that are being privatized. A second main difference concerns the lack of the record of market performance for the firm. The book explores these open questions through an overview of on-going and proposed processes in Section 1. In Section 2 theoretical foundations of privatization processes are proposed with respect to the financial market, industrial relations and foreign trade. A final key question is faced in Section 3: 'is there any alternative to privatization?'
Author: June G. Hopps
Publisher: Bloomsbury Publishing USA
ISBN: 0313022259
Category : Education
Languages : en
Pages : 224
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Book Description
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.
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).
