On Privatisation and Restructuring
AbstractThis essay deals with the issues of privatisation and restructuring in transition economies. The topics are addressed in both a descriptive and empirical manner. The centre of the analysis is the interrelation of privatisation, the resulting ownership form and the expected and actual effect on restructuring behaviour of firms. The essay identifies a slow progress in privatisation, paired with an overweight of insider owners. Furthermore substantial evidence on slow restructuring is collected. Overmanning and excessive social assets prevail in the privatised firms - in part regardless of the new ownership structure. Finally, the link to the government’s fiscal situation is drawn, the costs of restructuring to the government budget are identified. In presenting such account of the privatisation and restructuring situation, the essay provides a basis for formal explanations of slow privatisation and sluggish restructuring.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 89.
Date of creation: 2000
Date of revision: 2006
Privatization; Restructuring; Transition; Central adn Eastern Europe;
Find related papers by JEL classification:
- P2 - Economic Systems - - Socialist Systems and Transition Economies
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
- P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-12-04 (All new papers)
- NEP-BEC-2006-12-04 (Business Economics)
- NEP-PBE-2006-12-04 (Public Economics)
- NEP-TRA-2006-12-04 (Transition Economics)
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