IDEAS home Printed from https://ideas.repec.org/p/hwe/certdp/9603.html
   My bibliography  Save this paper

Privatisation in Lithuania: Expectations, Process, Consequences

Author

Listed:
  • E. Maldeikis

Abstract

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.

Suggested Citation

  • E. Maldeikis, 1996. "Privatisation in Lithuania: Expectations, Process, Consequences," CERT Discussion Papers 9603, Centre for Economic Reform and Transformation, Heriot Watt University.
  • Handle: RePEc:hwe:certdp:9603
    as

    Download full text from publisher

    File URL: http://www2.hw.ac.uk/sml/downloads/cert/wpa/1996/dp9603.pdf
    Download Restriction: no

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. 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). General contact details of provider: http://edirc.repec.org/data/cehwuuk.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.