Privatization in Hungary, Poland and Czechoslovakia
AbstractSeveral East European countries are embarking on major programmes both to expand their private sectors by encouraging new firm formation, and to transfer much of the existing state sector into private ownership. This paper studies the early experience of Hungary, Poland and Czechoslovakia in these areas, and reviews in detail their privatization plans for the three years 1991-3. All three countries envisage that about half the existing state sector will be in private hands by 1994 an extremely rapid rate of ownership change. While all countries will use a mixture of privatization methods, Hungary intends to sell its state firms, while the other two countries will also give away to the population a substantial fraction of the shares in the largest firms. Both approaches involve some very difficult problems. In the case of sales, it is uncertain how rapidly these can take place if a `reasonable' share price is to be maintained. In the case of giving away shares, which in practice requires some important institutional developments such as the creation of Privatization Funds (as suggested in Poland), the main difficulty is likely to be associated with the sheer administrative complexity of the privatization process.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 544.
Date of creation: Apr 1991
Date of revision:
Contact details of provider:
Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
Other versions of this item:
- Grosfeld, I. & Hare, P., 1991. "Privatization in Hungary, Poland and Czechoslovakia," DELTA Working Papers 91-15, DELTA (Ecole normale supérieure).
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Marini, M., .
"Property rights and market: employee privatization as a cooperative bargaining process,"
CORE Discussion Papers RP
-1252, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- MARINI, Marco, 1996. "Property Rights and Market : Employee Privatization as a Cooperative Bargaining Process," CORE Discussion Papers 1996023, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Marco, Marini, 1996. "Property Rights and Market: Employee Privatization as a Cooperative Bargaining Process," MPRA Paper 31870, University Library of Munich, Germany.
- Karp, Larry & Stefanou, Spiro, 1992.
"Polish Agriculture in Transition: Does it Hurt to be Slapped by an Invisible Hand?,"
CEPR Discussion Papers
622, C.E.P.R. Discussion Papers.
- Karp, Larry & STEFANOU, SPIRO, 1991. "Polish Agriculture in Transition: Does it Hurt to be Slapped by an Invisible Hand?," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt1vt3c57h, Department of Agricultural & Resource Economics, UC Berkeley.
- Molle W & Zandvliet, C. Th, 1992. "Can foreign aid reduce east-west migration in europe? with special reference to Poland," ILO Working Papers 322116, International Labour Organization.
- Mike Wright & Judit Karsai & Zbigniew Dudzinski & Jan Morovic, 1999. "Transition and Active Investors: Venture Capital in Hungary, Poland and Slovakia," Post-Communist Economies, Taylor & Francis Journals, vol. 11(1), pages 27-46.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.