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Privatising firms and liberalizing their market environment generates in Eastern Europe a variety of problems, many of which are not common to the analogous attempts in industries countries. A first difference between the two experiences resides in establishing the value of the firm or of the assets that are being privatized. A second main difference concerns the lack of the record of market performance for the firm. The book explores these open questions through an overview of on-going and proposed processes in Section 1. In Section 2 theoretical foundations of privatization processes are proposed with respect to the financial market, industrial relations and foreign trade. A final key question is faced in Section 3: 'is there any alternative to privatization?'
List of contents
Introduction; L.Paganetto - PART 1: AN OVERVIEW OF ON-GOING AND PROPOSED PROCESSES - Privatization Processes in Eastern Europe: Theoretical Foundations and Empirical Results; L.Dini - Proposed Reforms of the Economic System of Information and Decision in the USSR: Commentary and Advice; K.J.Arrow & E.S.Phelps - Privatization in Central Europe and the Soviet Union; C.Boffito - Evolution and Design in the East European Transition; R.Frydman & A.Rapaczynaki - Evolution and Design in Eastern European Transition: Comment; R.Bonavoglia - PART 2: THEORETICAL FOUNDATIONS OF PRIVATIZATION PROCESSES: FINANCIAL MARKETS, INDUSTRIAL RELATIONS AND FOREIGN TRADE - Privatization and the Risk of Expropriation; J.Vickers - Privatization and Competitive Behaviour: Endogenous Objectives, Efficiency and Growth; L.Paganetto & P.L.Scandizzo - Some Theoretical Aspects of the Privatization: Applications to Eastern Europe; J.E.Stiglitz - Is there an Option to the Denationalization of Eastern European Enterprises?; B.Jossa - Foreign Trade, Foreign Direct Investments and Privatization in Eastern Europe; D.Salvatore - PART 3: AN OVERALL EVALUATION OF PRIVATIZATION PROCESSES IN EASTERN EUROPE - How Not to Privatize; M.L.Weitzman - Concluding Remarks; E.S.Phelps
