Autore: Winiecki, Jan
Titolo: Three crucial issues in post-communist privatization : a polish case in comparative perspective
Periodico: International Center for Economics Research, Torino. ICER - Working papers series
Anno: 1999 - Fascicolo: 24 - Pagina iniziale: 1 - Pagina finale: 24

The paper presents issues regarded by the author as crucial for the success of privatization - and of transition in general. Two of the three issues are strongly interrelated. The first concerns the internal composition of the emerging private sector in post-communist economies. The larger is the share of privatization 'from below' (expansion of the generic private sector) vis-a-vis privatization 'from above' (transformation of state-owned enterprises), the more dynamic the economy in transition becomes. The success of privatization 'from below' depends, however, not only on the rules of unfettered entrepreneurship, or even on the larger set of transition rules, but also on the still wider framework of liberty, law and order, and resultant general trust. This is the second crucial issue and a strongly interrelated one, because without this wider framework the generic private sector, the mainstay of the capitalist market economy will not take roots. The third issue points to certain differences between privatizations in the East and in the West and draws conclusions about future challenges for transition economies.


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