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Národohospodářské efekty privatizačního procesu v České republice
[National Economics Effects of the Privatization Process in the Czech Republic]

Author

Listed:
  • Karel Zeman

Abstract

The transformation of centrally planned economy to a market economy has confi rmed that the basic premise for the economic policy, characterized by liberal market economy, is democratically established property rights. This text analyzes the National Economic effects of one of the most complex transformation processes, which is the process of privatization. This publication examines all three legal regimes through which were the entire privatization process implemented. These are "The Small Privatization" according to the Act no. 427/1990 Coll., "The Large-scale Privatization" according to the Act no. 92/1991 Coll. and "The privatization of agricultural and forestry property" according to the Act no. 229/1991 Coll. and the Act no. 95/1999 Coll., with respect to the: affected economic theories, theory of property rights in particular, transaction costs theory, theory of interested groups, rent-seeking theory, theory of government failure, etc.; macroeconomic analysis of the process itself; macroeconomic analysis of the use of the proceeds from the privatization process; evaluation of the National Economic effects, whether positive or negative, of the privatization process in the Czech Republic. The aim of this text is to provide professional and comprehensive overview of the National Economic effects of the privatization process as a whole, which has not been published until now by any author in view of the fact that the perception of the privatization process of the professionals and the general public has been narrowed to a process implemented by the National Property Fund and the Ministry of Finance (by selling shares through vouchers). Finally, the aim of this publication is to analyze the application of economic theories within the privatization process in the Czech Republic which describes the pros and cons of this unique economic and national economy "experiment".

Suggested Citation

  • Karel Zeman, 2015. "Národohospodářské efekty privatizačního procesu v České republice [National Economics Effects of the Privatization Process in the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2015(8), pages 1006-1031.
    • Handle: RePEc:prg:jnlpol:v:2015:y:2015:i:8:id:1049:p:1006-1031
    DOI: 10.18267/j.polek.1049
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    References listed on IDEAS

    as
    1. Krueger, Anne O, 1974. "The Political Economy of the Rent-Seeking Society," American Economic Review, American Economic Association, vol. 64(3), pages 291-303, June.
    2. Alchian, Armen A. & Demsetz, Harold, 1973. "The Property Right Paradigm," The Journal of Economic History, Cambridge University Press, vol. 33(1), pages 16-27, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    state property; rent-seeking; property rights; privatization process; national property fund of the Czech Republic; land fund of the Czech Republic;
    All these keywords.

    JEL classification:

    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • H82 - Public Economics - - Miscellaneous Issues - - - Governmental Property
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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