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Author: Ladislav Svitek Publisher: ISBN: 9781423508229 Category : Languages : en Pages : 123
Book Description
This thesis tests an important question: was privatization in the Czech Republic in the transformation period from a command economy to a market economy a success or failure. The importance of answering this question arises because privatization was the keystone for the stabilization and transformation of Central European countries. Privatization played a significant role as the private sector was missing or played an insignificant role in the command economy. privatization was not only the most observed part of the stabilization and transformation process but also the most complicated part of this process. The Czech government's top priority was to quickly denationalize a large number of state enterprises. A unique method of privatization was implemented to speed up privatization and distribute for free a significant part of state assets. The pace was more important than moral arguments. In contrast, Poland and Hungary used more moderate methods of privatization. This thesis discusses the basic facts about the privatization process in the Czech Republic, introduces the privatization methods used in the Visegrad countries, compares the pace of privatization, reveals what remains for further privatization and provides a macroeconomic comparative analysis. In addition, it discusses the success and failure of the voucher privatization method.
Author: Ladislav Svitek Publisher: ISBN: 9781423508229 Category : Languages : en Pages : 123
Book Description
This thesis tests an important question: was privatization in the Czech Republic in the transformation period from a command economy to a market economy a success or failure. The importance of answering this question arises because privatization was the keystone for the stabilization and transformation of Central European countries. Privatization played a significant role as the private sector was missing or played an insignificant role in the command economy. privatization was not only the most observed part of the stabilization and transformation process but also the most complicated part of this process. The Czech government's top priority was to quickly denationalize a large number of state enterprises. A unique method of privatization was implemented to speed up privatization and distribute for free a significant part of state assets. The pace was more important than moral arguments. In contrast, Poland and Hungary used more moderate methods of privatization. This thesis discusses the basic facts about the privatization process in the Czech Republic, introduces the privatization methods used in the Visegrad countries, compares the pace of privatization, reveals what remains for further privatization and provides a macroeconomic comparative analysis. In addition, it discusses the success and failure of the voucher privatization method.
Author: Michal Mejstrík Publisher: Springer Science & Business Media ISBN: 1461563518 Category : Business & Economics Languages : en Pages : 346
Book Description
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.
Author: Jan Svejnar Publisher: Academic Press ISBN: 1483289230 Category : Business & Economics Languages : en Pages : 463
Book Description
The Czech Republic and Economic Transition in Eastern Europe is the first in-depth, comparative analysis of the Czech Republic's economic transition after the fall of the Communist bloc. Edited by Jan Svejnar,a principal architect of the Czech economic transformation and Economic Advisor to President Vaclav Havel, the book poses important questions about the Republic and its partners in Central and Eastern Europe. The thirty-five essayists describe the country's macroeconomic performance; its development of capital markets; the structure and performance of its industries; its unemployment, household behavior, and income distribution; and the environmental and health issues it faces.In this in-depth, comparative analysis of the Czech Republic's economic transition, an international team of thirty-five economists examine the Republic and its partners in Central and Eastern Europe. Important questions and issues permeate the essays. For example, prior to 1939 the Czech Republic possessed the most advanced economy in the region; is it capable of reestablishing its dominance? Relative to its neighbors, the Republic ranks especially high on some transition-related performance indicators but low on others. What economic effects are related to the 1993 dissolution of the Czech and Slovak governments? And what can be learned by comparing the economic outcomes of two countries that shared legal and institutional frameworks? Data describe the country's macroeconomic performance; its development of capital markets; the structure and performance of its industries; its unemployment, household behavior, and income distribution; and the environmental and health issues facing it. Its most important contributions are its clarifications of the transition process.The authors included in Transforming Czechoslovakia combine the best available data and techniques of economic analysis to assess the replacement of the inefficient but internally consistent central planning system with a more efficient market system. These authors, among whom are central European economic analysts, senior U.S. economists, and Czechoslovakian professors and economic researchers, discuss the country's macroeconomic performance; its development of capital markets; the structure and performance of its industries; its unemployment, household behavior, and income distribution; and the environmental and health issues facing it. The essays vary between presentations of history and policy and technical examinations of data. Together they offer the most comprehensive and detailed assessment of the country's economic transformation in print.This book is important because its essayists compile results and reach conclusions that are broad and credible. The empirical data were gathered on the ground and have been subjected to advanced methodologies, including game theory, industrial organization, and Granger-Sims causality.
Author: Iraj Hoshi Publisher: Springer ISBN: 0230377017 Category : Political Science Languages : en Pages : 285
Book Description
Privatization was the fundamental pillar of transition from plan to market in former socialist countries. But little is known about the fate of companies that were privatized in large scale privatization schemes such as mass privatization or management-employee buyouts. This is the first original study aiming to fill this gap. It assesses wholesale privatization schemes in three leading transition countries - the Czech Republic, Poland and Slovenia - in terms of the evolving concentration of ownership and relations to firm performance.
Author: United Nations Conference on Trade and Development Publisher: [Switzerland] : United Nations Conference on Trade and Development ; [Budapest, Hungary] : KOPINT-DATORG ISBN: Category : Business & Economics Languages : en Pages : 438
Author: Mr.Oleh Havrylyshyn Publisher: International Monetary Fund ISBN: 1451842279 Category : Business & Economics Languages : en Pages : 45
Book Description
This paper reviews a selection of studies on privatization experiences in transition countries. Empirical studies almost invariably show privatized enterprises outperform state enterprises. Moreover, the literature identifies de novo firms as being clearly the best performers, followed by outsider-dominated firms, while insider-dominated firms are the least efficient among those newly privatized. The importance of de novo firms in enlarging the private sector in transition economies is reviewed, along with the question of whether privatization efforts support or hinder de novo private sector development. Finally, the paper discusses the importance of providing a suitable market environment for successful private-sector development.
Author: Yelena Kalyuzhnova Publisher: Springer ISBN: 0230378331 Category : Business & Economics Languages : en Pages : 272
Book Description
Privatisation and Structural Change in Transition Economies brings together specialists from different areas (governance, regulation, macro-econometrics, micro-econometrics, enterprise culture, foreign direct investment, technology transfer) to focus on the many different aspects of the privatization process in transition economies. The book does not dwell on the administrative or procedural aspects of privatisation. Instead it attempts to understand the bigger picture in terms of underlying policy environment and supporting legal and economic measures which helped to a large extent to determine the eventual success or failure of privatization programmes.
Author: John R. Nellis Publisher: World Bank Publications ISBN: 9780821345030 Category : Business & Economics Languages : en Pages : 44
Book Description
IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.
Author: Oleh Havrylyshyn Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 28
Book Description
The authors' view is that any privatisation is better than none, regardless of whether a stable, competitive environment has been established first. However, private companies started from scratch perform best, followed by newly privatised firms run by outsiders, either local or foreign. Privatised companies dominated by insiders do less well, but even they regularly outperform state enterprises. Without an appropriate market environment though, managers may spend more time lobbying the government for support than undertaking painful restructuring measures.
Author: Ladislav Svitek
Author: Ladislav Svitek
Author: Ira W. Lieberman
Author: Michal Mejstrík
Author: Jan Svejnar
Author: Iraj Hoshi
Author: United Nations Conference on Trade and Development
Author: Mr.Oleh Havrylyshyn
Author: Yelena Kalyuzhnova
Author: John R. Nellis
Author: Oleh Havrylyshyn