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The Privatization Process in East-Central Europe - Evolutionary Process of Czech Privatization (Hardcover, 1997 ed.)
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The Privatization Process in East-Central Europe - Evolutionary Process of Czech Privatization (Hardcover, 1997 ed.)
Series: International Studies in Economics and Econometrics, 36
Expected to ship within 10 - 15 working days
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It is beyond any doubt that East-Central European countries such as
Czech Republic, Hungary, Poland and Slovakia has dramatically
changed its shape through its radical transition from centrally
planned to the market economies in last 7 years. Many economists
divide the process of economic transformation into areas of
Stabilization, Liberalization, and Privatization/Restructuring. The
traditional view is that stabilization and liberalization can be
achieved rather quickly-by balancing budgets, balance of payments,
tightening money supply, freeing prices and liberalizing trade-but
that the area of privatization is one that could be moved to the
future and will require much more time. Until 1991, none of the
post-communist nations except former East Germany (which had a
large decree of support from West Germany) had succeeded in
privatizing large numbers of enterprises, even though more than two
years had passed since the changes in government in these nations.
The privatization has been, however, seen as an extremely important
part of reform package together with stabilization and
liberalization especially in the Czech Republic from the very
beginning. The Czechs originally as a part of the Czechoslovak
Federal Republic embarked on an unprecedented path that should have
lead not only to stabilization and liberalization, but also to very
rapid, mass privatization of its sector of large enterprises that
have dominated its economy to an extreme extent.
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