PRIVATIZATION IN EASTERN EUROPE: A Critical Approach(Studies of Communism in Transition series)

The task of turning the state-owned assets of the Eastern European countries over to private ownership is one of the most challenging of our time, both intellectually and in practical terms. Ivan Major's in-depth critique of the plans and programmes of the East European governments addresses the core issues of privatization from the perspective of both potential winners and losers. After discussing the analytical framework, he offers an assessment of the legacy of the command economy and includes individual country studies of Czechoslovakia, the former GDR, Hungary, Poland and the former Soviet Union. The following chapters look at the theoretical, political and economic underpinning, as well as assessments of the initial results of East European privatizations. Dr Major argues that the whole network of political regulation must be dismantled if an efficient market economy is to emerge.

Table of Contents:
Part 1 Introduction - analytical framework. Part 2 The legacy of the command economy: state ownership, "Politburo Ownership" or "Nomenklatura Ownership"?; economic reforms and ownership; political regulation in a command economy and its consequences for privatization; what is to be privatized in Eastern Europe? - Czechoslovakia, the former GDR, Hungary, Poland, the former Soviet Union. Part 3 Starting conditions and issues in the economic transformation. Part 4 The reasons for privatization: reasons for privatization in the western literature; additional reasons for privatization in the east. Part 5 Plans and realities of privatization in eastern Europe: the initial framework of the governments' plans for privatization; plans for privatization. Part 6 Issues on privatization and restructuring: from "Nomenklatura Ownership" to private ownership via state ownership?; the privatization controversy - why privatize?; the pace and methods of privatization; privatization by free distribution - the case of the largest enterprises.

About the Author :
Iván Major, Senior Research Fellow, Institute of Economics, Hungarian Academy of Sciences and Managing Director of the Blue Ribbon Commission Hungarian Foundation, Hungary

Review :
'This short book should be read by all students of economic transition in eastern Europe. As a lucid and concise survey of the issues involved in the ongoing process of privatization in the region, it serves as an excellent introduction for students and a useful reference book for co-researchers.' 'This is a major contribution to our understanding of privatization in Eastern Europe. Dr Major provides a comprehensive analysis of the programme and problems of privatization in the whole area. It is a well-structured and lucidly written book which presents a convincing analysis.' 'I found this exhaustive and thoughtful book extremely interesting. I not only benefited from reading it; I also enjoyed doing so.' '. . . Major's book. . . . a broad, analytical framework for considering the whole problem of privatization.' '. . . an interesting study by an East European scholar which provides a distinct analysis of problems of privatization in Eastern Europe. . . . the book provides useful insights into the area of Eastern European privatization.' '. . . Ivan Major's book is a highly interesting and valuable piece of writing.'