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Privatization of Corporations in Uzbekistan in Comparison with Transition Economies of Central and Eastern Europe

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  • Kakhkharov, Jakhongir

Abstract

The demise of the Berlin Wall and the collapse of the USSR signaled a rush to privatization in Central and Eastern Europe and the former Soviet Union. The governments of these countries are trying to privatize i.e. transfer state-owned-and-operated enterprises to private owners and/or managers in order to create a viable private sector, capital markets and other institutions and processes, which describe a free market capitalist system. However, the pace of privatization has not been the same across the board. Whereas some of the Central and Eastern European countries are considered to be far ahead in privatization process, Uzbekistan lags behind their former peers from socialist camp – Czech and Slovak Republics, Hungary, Poland, Estonia and some others . This paper argues that despite the fact that there were similarities at the starting point of transition, the differences in initial conditions and reform agenda of governments in Central Eastern Europe and Uzbekistan accounted for Uzbekistan’s slower pace of privatization.

Suggested Citation

  • Kakhkharov, Jakhongir, 2003. "Privatization of Corporations in Uzbekistan in Comparison with Transition Economies of Central and Eastern Europe," MPRA Paper 64129, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:64129
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    References listed on IDEAS

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    1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "Patterns of Transition from Plan to Market," The World Bank Economic Review, World Bank, vol. 10(3), pages 397-424, September.
    2. Richard Pomfret & Kathryn H. Anderson, 1997. "Uzbekistan: Welfare Impact of Slow Transition," WIDER Working Paper Series wp-1997-135, World Institute for Development Economic Research (UNU-WIDER).
    3. Richard Pomfret, 2000. "The Uzbek Model of Economic Development, 1991–91," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 733-748, November.
    4. Wolf, H.C., 1999. "Transition Strategies: Choices and Outcomes," Princeton Studies in International Economics 85, International Economics Section, Departement of Economics Princeton University,.
    5. Mr. Oleh Havrylyshyn & Mr. Donal McGettigan, 1999. "Privatization in Transition Countries: A Sampling of the Literature," IMF Working Papers 1999/006, International Monetary Fund.
    6. Islamov, Bakhtior, 1998. "State-led Transformation and Economic Growth in Central Asia: From Plan to Industrial Policy," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 39(2), pages 101-125, December.
    7. Pomfret, R & Anderson, K-H, 1997. "Uzbekistan : Welfare Impact of Slow Transition," Research Paper 135, World Institute for Development Economics Research.
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    More about this item

    Keywords

    Privatization; Uzbekistan; Transition; Economic Reforms;
    All these keywords.

    JEL classification:

    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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