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Privatizing Eastern Europe : the role of markets and ownership in the transition

Author: Jozef M van Brabant
Publisher: Dordrecht : Springer Science, 1992.
Series: International studies in economics and econometrics, v. 24.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
With the revolutions in eastern Europe since mid-1989, two main transformations are envisaged: pluralistic political democracy and a market economy based largely on private property and self-interest. One element that straddles those two objectives is what to do with state-owned property during the transition from a planned to a market environment. Privatizing Eastern Europe looks at the economic goals that may be  Read more...
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Details

Genre/Form: Electronic books
Additional Physical Format: Printed edition:
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Jozef M van Brabant
ISBN: 9789401128346 9401128340 940105259X 9789401052597
OCLC Number: 844344046
Description: 1 online resource (xiv, 327 pages).
Contents: 1. On the transformations of the East --
2. Coordination through planning and the market --
3. On the role of the state --
4. On property rights --
5. Capital assets and their allocation --
6. On the motives for and goals of privatization --
7. Obstacles to privatization --
8. On the techniques of privatization --
9. The experience with privatization --
Conclusions.
Series Title: International studies in economics and econometrics, v. 24.
Responsibility: by Jozef M. van Brabant.

Abstract:

With the revolutions in eastern Europe since mid-1989, two main transformations are envisaged: pluralistic political democracy and a market economy based largely on private property and self-interest. One element that straddles those two objectives is what to do with state-owned property during the transition from a planned to a market environment. Privatizing Eastern Europe looks at the economic goals that may be pursued in various ways: by taking the state out of the allocation of the service streams of existing capital assets in general and state-owned enterprises in particular. The volume advocates the urgency of taking politics out of resource allocation. Since this cannot be done through divestment, particularly for large assets, it is imperative that alternatives be put in place at the earliest possible opportunity in the economic transformation. For petty assets (housing, small shops, handicrafts, restaurants, etc.) quick divestment is desirable. For other assets, the principal agent problem will need to be taken care of by investing management with the task of acting in the interest of real owners.
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