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This Third Volume in the acclaimed series of CEU Privatization
Reports deals with the transition to a free market in retail trade
and consumer services in Poland, Hungary, and the Czech Republic.
The authors describe and analyze all the programs with the help of
which shops, restaurants, and service establishments have been
privatized in the three most advanced postcommunist countries and
provide detailed quantitative evidence concerning all aspects of
the small privatization process. The volume also presents the
results of the first extensive empirical survey of privatized
establishments in the three countries and draws important
conclusions concerning the conditions necessary for a successful
privatization of the retail trade and consumer service sectors in
Eastern Europe. The authors argue that small privatization is,
above all, a transfer of ownership to commercial real estate and
that the nature of the rights conveyed to the new owners makes a
great difference with respect to postprivatization restructuring.
They also show that the presence of outside owners, not connected
with predecessor state establishments, is one of the most important
factors determining the extent of changes brought about by small
privatization.
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