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Privatisation in the transition to a market economy



    (European Institute of Public Administration)


The debate on privatisation, which now concerns Central and Eastern Europe as it transitions to a market-based economy, has centred mostly on the speed of the process, leaving aside important aspects related to the implementation of proper institutional frameworks. The work discusses this issue, reviewing the privatisation experiences of Central and Eastern European countries to date. The theoretical rational for privatisation in these countries is identified, various methods are reviewed and their application to the countries in question are addressed. Targets, constraints and implications are identified and a preliminary assessment is provided.

Suggested Citation

  • R. Daviddi, 1994. "Privatisation in the transition to a market economy," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 47(191), pages 399-429.
  • Handle: RePEc:psl:bnlqrr:1994:43

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    References listed on IDEAS

    1. Eduardo Borensztein, 1991. "Proposals for Privatization in Eastern Europe," IMF Working Papers 91/36, International Monetary Fund.
    2. Dhanji, Farid & Milanovic, Branko, 1991. "Privatization in Eastern and Central Europe : objectives, constraints, and models of divestiture," Policy Research Working Paper Series 770, The World Bank.
    3. Frydman, Roman & Rapaczynski, Andrzej, 1991. "Privatization and Corporate Governance in Eastern Europe: Can a Market Economy Be Designed?," Working Papers 91-52, C.V. Starr Center for Applied Economics, New York University.
    4. Estrin, Saul & Perotin, Virginie, 1991. "Does ownership always matter?," International Journal of Industrial Organization, Elsevier, vol. 9(1), pages 55-72, March.
    5. Eduardo Borensztein & Manmohan S. Kumar, 1991. "Proposals for Privatization in Eastern Europe," IMF Staff Papers, Palgrave Macmillan, vol. 38(2), pages 300-326, June.
    6. Sachs, Jeffrey D, 1992. "Privatization in Russia: Some Lessons from Eastern Europe," American Economic Review, American Economic Association, vol. 82(2), pages 43-48, May.
    7. Grosfeld, Irena & Hare, Paul G, 1991. "Privatization in Hungary, Poland and Czechoslovakia," CEPR Discussion Papers 544, C.E.P.R. Discussion Papers.
    8. Vuylsteke, C., 1988. "Techniques Of Privatization Of State-Owned Enterprises -," Papers 88, World Bank - Technical Papers.
    9. Roland, Gerard & Verdier, Thierry, 1994. "Privatization in Eastern Europe : Irreversibility and critical mass effects," Journal of Public Economics, Elsevier, vol. 54(2), pages 161-183, June.
    10. Stanley Fischer, 1991. "Privatization in East European Transformation," NBER Working Papers 3703, National Bureau of Economic Research, Inc.
    11. O Blanchard & Richard Layard, 1991. "How to Privatise," CEP Discussion Papers dp0050, Centre for Economic Performance, LSE.
    12. Roman Frydman & Edmund S. Phelps & Andrzej Rapaczynski & Andrei Shleifer, 1993. "Needed mechanisms of corporate governance and finance in Eastern Europe 1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 1(2), pages 171-207, June.
    13. Bos, Dieter, 1993. "Privatization in Europe: A Comparison of Approaches," Oxford Review of Economic Policy, Oxford University Press, vol. 9(1), pages 95-111, Spring.
    14. Sadowski, Zdzislaw L, 1991. "Privatization in Eastern Europe: Goals, Problems, and Implications," Oxford Review of Economic Policy, Oxford University Press, vol. 7(4), pages 46-56, Winter.
    15. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, January.
    16. Furubotn, Eirik G & Pejovich, Svetozar, 1972. "Property Rights and Economic Theory: A Survey of Recent Literature," Journal of Economic Literature, American Economic Association, vol. 10(4), pages 1137-1162, December.
    17. Frydman, Roman & Rapaczynski, Andrzej, 1991. "Evolution and Design in the East European Transition," Working Papers 91-53, C.V. Starr Center for Applied Economics, New York University.
    18. unknown, 1993. "Privatization in Europe: A comparison of approaches," Discussion Paper Serie A 376, University of Bonn, Germany.
    19. R Buckland & E W Davis, 1984. "Privatisation techniques and the PSBR," Fiscal Studies, Institute for Fiscal Studies, vol. 5(3), pages 44-53, August.
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    More about this item


    Privatisation; Central and Eastern Europe;

    JEL classification:

    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General


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