Description
Book SynopsisThis important book provides a comprehensive analysis of the impact of privatization on the economic performance of companies in Central and Eastern Europe. It sheds new light on the achievements and shortcomings of the privatization process and draws out lessons for the future.
After considering the theoretical issues surrounding privatization, the authors provide an in-depth examination of corporate governance and company performance in advanced market economies as well as transition economies. They begin with a description of the main principles, techniques and results of privatization in Bulgaria, Estonia, Hungary and Poland. A statistical and econometric analysis of extensive company-level data and interviews from a large number of firms between 1990 and 1997 is then conducted to discover the main factors in changing economic performance. Using this information the authors compare the transformation of the company sectors in the four countries, and in addition assess company restructuring from the perspective of West European privatizations.
Privatization and Economic Performance in Central Eastern Europe will be of interest to policymakers in governments and international organizations and those working in the fields of microeconomics, industrial organization and transition studies.
Trade Review'. . . it is exactly this close and critical view on a complex topic by insider experts instead of the well known discourse deducted from (Western) assumptions and prejudices which makes the book highly valuable for both practical and scientific readers.' -- Thomas Steger, Journal for East European Management Studies
Table of ContentsContents: Introduction 1. Privatization: The Teaching of Western Experiences 2. Theories of Privatization and the Specific Features of East European Privatizations 3. Company Restructuring in the Bulgarian Transition 4. Company Restructuring in Estonia Between 1992 and 1995 5. Company Restructuring after Privatization in Hungary Between 1988 and 1997 6. Privatization and Company Restructuring in Poland 7. Company Restructuring after Privatization in a Comparative Perspective: Lessons from Four Central and East European Countries Index
