The Privatization Process in Central Europe

In this work, comprehensive comparative information on five Central European countries has been collected by teams of researchers from both within the region and from the West. Following an introduction to the economic environment in each country, it provides an overview of the privatization process, including an account of the legal framework of ownership, institutions for state regulation, an overview of privatization programmes and the initial transformation of enterprises. A key feature of the book is the authors' access to hitherto unavailable information and their ability to present a vast amount of material in an easily available format. Aimed at policy makers and business people, the work should provide a strong foundation for future research.

Table of Contents:
Contributors, About the CEU Privatization Project, Acknowledgements BULGARIA 1. Introduction 2. Economic environment 3. Present forms of ownership, Legal framework of economic activity, Structure of ownership 4. The privatization process, Organizational structure of state regulation of privatization, Overview of privatization programs 5. Corporatization CZECHOSLOVAKIA 1. Introduction 2. Economic environment 3. Present forms of ownership Legal framework of economic activity, Structure of ownership 4. Overview of the privatization process, Organizational structure of state regulation of privatization, Overview of privatization programs 5. Corporatization and commercialization HUNGARY 1. Introduction 2. Economic environment 3. Present forms of ownership Legal framework of economic activity, Structure of ownership 4. The privatization process,Organizational structure of state regulation of privatization, Overview of privatization programs5. Corporatization POLAND 1. Introduction 2. Economic environment 3. Present forms of ownership, Legal framework of economic activity, Structure of ownership 4. The privatization process, Organizational structure of state regulation of privatization, Overview of privatization programs 5. Corporatization ROMANIA 1. Introduction 2. Economic environment 3. Present forms of ownership Legal framework of economic activity, Structure of ownership 4. The privatization process, Organizational structure of state regulation of privatization, Overview of privatization programs 5. Corporatization,

About the Author :
Andrzej Rapaczynski is Daniel G. Ross Professor of Law; Joseph Solomon Professor of Wills, Trusts, and Estate Planning at the Columbia Law School.

Review :
'These guidebooks to the economies of Eastern Europe offer the best description available, and - between the lines - they teach the reader how to think about the development process in the region.'--Edmund S. Phelps, 'Policymakers and economists engaged in the economic transformations of the former socialist countries are grappling with unprecedented problems and have no inherited wisdom to draw on. These extremely informative and valuable country surveys produced by the CEU Privatization Project ensure that they will be able to learn from each other in as timely a manner as possible.'--Axel Leijonhufvud 'Professors Frydman and Rapaczynski are unique. Not only are they the leading theoreticians of the privatization movement, but they are among its most experienced practitioners. Their insistence on truly opening up the privatization process to market forces and free competition may prove decisive to the ultimate success or failure of the privatization reforms now sweeping Eastern Europe. In this series of volumes, they demonstrate a wealth of knowledge and collect invaluable and otherwise unavailable information.'--John C. Coffee Jr. 'Privatization of state enterprises lies at the core of effective economic transformation in previously centrally-planned economies. However, as experience shows, successful privatization is not easy and it requires a good knowledge of local and institutional constraints as well as a firm grasp of the key economic factors involved in the process. Thus, we should be grateful to the sponsors and researchers of the CEU Privatization Project for helping to provide a thorough, sharply focused and, I must say, timely report on these issues. These volumes are likely to become an indispensable reference for both policymakers involved in actual privatization processes and researchers interested in the field.'--Guillermo Calvo 'These volumes are a unique and invaluable resource for scholars and students in a variety of disciplines who need comprehensive and up-to-date information on the remarkable process of economic reorganization taking place in Central and Eastern Europe.'--Henry Hansman