Proposals for Privatization in Eastern Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Proposals for Privatization in Eastern Europe write by Mr.Eduardo Borensztein. This book was released on 1991-04-01. Proposals for Privatization in Eastern Europe available in PDF, EPUB and Kindle. This paper discusses several proposals for a wholesale privatization of public enterprises in Eastern Europe. These proposals include the distribution of ”vouchers” to private citizens as well as the use of mutual funds, privatization companies and other forms of financial intermediaries. The paper analyzes the implications for economic efficiency of the different forms of ownership and control that would emerge from the proposals as well as their main macroeconomic consequences.
Privatizing Eastern European Economies
Privatizing Eastern European Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Privatizing Eastern European Economies write by Zeljko Bogetic. This book was released on 2011. Privatizing Eastern European Economies available in PDF, EPUB and Kindle. Two years after the Polish "Big Bang," privatization In Eastern Europe, the cornerstone of transition, has been progressing at a slow pace which frustrates many reformers in these countries. Notwithstanding the considerable growth of private firms from new entry, the relative number of privatized large firms and/or their share in the value added remain modest. The tardiness of the process has been aggravated by the poor performance of these economies, and this has led to calls for increased government Intervention which in turn may diminish the likelihood of privatization in the future. As a result, there is a growing realization that the speed of privatization needs to be increased in order to avoid the "transition trap": a situation where the economy is stuck with essentially unchanged overall structure of ownership and a corresponding lack of incentives. This paper reviews privatization plans as they have been implemented in several Eastern European countries ( i.e., Bulgaria,Czech and Slovak republics, the former East Germany, Hungary, Poland and Russia) and attempts to draw some lessons which may be useful for other transitional economies which are presently in earlier stages In the privatization process. We argue that programs which are not either highly centralized (as in the former East Germany) or highly decentralized (an approach which is as yet untried) cannot provide the speed to avoid the "transition trap." While the latest wave of new mass privatization plans, which emphasize vouchers and mutual funds, are often regarded as decentralized approaches we argue that this is not the case and that these plans may not succeed where previous approaches have failed. The lessons from the critical review are integrated into a specific privatization proposal which is flexible enough to be applicable to a wide range of countries and initial conditions. A country can choose the degree to which it wishes to pursue this approach from the almost complete reliance on It to using It as a complementary method to other forms of privatization. The approach has merits both from the perspective of short run and long run efficiency. In the short run, privatization is achieved quickly, and correct incentives are put into place so that the transitional economies can achieve a high level of productivity growth in the post-privatization years.
Privatizing Eastern Europe
Privatizing Eastern Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Privatizing Eastern Europe write by J.M. Van Brabant. This book was released on 2012-12-06. Privatizing Eastern Europe available in PDF, EPUB and Kindle. This volume is meant to be a modest contribution to the ongoing debate about the transitions away from the administrative planning environment typical of the former communist regimes. The central subject matter is a fairly special one, namely the privatization of these economies together with the restoration and effective monitoring of property rights. These are paramount tasks of the ongoing transformations once progress toward pOlitical democracy is secured. Though I would not allot divestment of existing state-owned assets the kind of pivotal importance that some observers reserve for it, changing rules on the utilization of these assets is evidently at the core of what the transition toward market-based economic systems should be all about. Rather than examining the entire range of issues that surround the controvery on privatization, this volume is primarily concerned with the economics of taking the state out of the decision making about existing assets. Among the several aspects of this discussion three stand out. One is the establishment of clear property rights. This is fundamental to minimize trans action costs in an environment where decisions will increasingly be taken by independent economic agents acting on their own account. Second, I look only incidentally at the various angles of creating capital markets, particularly for existing assets, in these economies.
Privatization in Eastern Europe
Privatization in Eastern Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Privatization in Eastern Europe write by Roman Frydman. This book was released on 1994-01-01. Privatization in Eastern Europe available in PDF, EPUB and Kindle. In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
Privatization Processes in Eastern Europe
Privatization Processes in Eastern Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Privatization Processes in Eastern Europe write by Mario Baldassarri. This book was released on 1993-12-15. Privatization Processes in Eastern Europe available in PDF, EPUB and Kindle. Privatising firms and liberalizing their market environment generates in Eastern Europe a variety of problems, many of which are not common to the analogous attempts in industries countries. A first difference between the two experiences resides in establishing the value of the firm or of the assets that are being privatized. A second main difference concerns the lack of the record of market performance for the firm. The book explores these open questions through an overview of on-going and proposed processes in Section 1. In Section 2 theoretical foundations of privatization processes are proposed with respect to the financial market, industrial relations and foreign trade. A final key question is faced in Section 3: 'is there any alternative to privatization?'
