Privatisation in Lithuania: Expectations, Process, Consequences
The primary emphasis of Lithuania’s economic transition policy has been placed on the restructuring of ownership relations. Lithuania chose one of the most ambitious methods of privatisation compared to other countries in Central and Eastern Europe, privatising two- thirds of state property. The process of privatisation, is the backbone of the Lithuanian transformation process and has a significant impact on the general economic development of the country, the creation of a competitive business environment, and the development of a system of corporate governance and securities market. The paper aims to shed light on the nature and efficiency of the privatisation process, on the emerging problems, obstacles, and results of the privatisation process. The arguments supporting the distributional model of privatisation and the socio-political preconditions and consequences are also analysed. It is argued, that the transfer from public to private ownership brings efficiency related changes in the way a company is run. Private companies are less subject to political interference, and should be more subject to the discipline of commercial and financial markets. After privatisation, problems of enterprise capitalisation and restructuring still remain. The aims of social equity and justice, promoted at the start of privatisation, were not achieved. As a new stage of privatisation (for cash) begins in Lithuania, an analysis of the first stage of privatisation should prove useful in the preparation and implementation of a new model of privatisation.
|Date of creation:||1996|
|Contact details of provider:|| Postal: Edinburgh EH14 4AS|
Phone: +44(0)131 451 3497
Fax: +44(0)131 451 3497
Web page: http://www.sml.hw.ac.uk/research/cert.htm
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:hwe:certdp:9603. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Colin Miller)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.