The biggest problem in post-communist transition: The privatization of large enterprises

Arbeitspapier

Thirty years after the collapse of the Soviet Union, it is rather clear what transition policies have worked. Almost all the post-communist countries have become market economies and have achieved macroeconomic stability. Privatization was economically necessary, and its economic outcomes have been very positive. Alas, politically, these successes have often been unsustainable because of strong popular sentiments against the private ownership of big enterprises. Substantial renationalization has occurred. What went wrong? How could privatization be done better, or be defended? What should be done to defend private enterprise in the future? This paper argues that the nature of privatization is far less important than the establishment of good rule of law so that private property rights can be defended.

Object Details

• ISBN: 978-83-7178-723-2
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CASE Working Papers ; No. 16 (140)

Classification and Topics

• Classification: Wirtschaft ; Socialist Systems and Transitional Economies: General ; Socialist Systems and Transitional Economies: Political Economy; Property Rights ; Socialist Institutions and Their Transitions: General ; Socialist Enterprises and Their Transitions ; Law and Economics: General ; Illegal Behavior and the Enforcement of Law
• Subject: Eastern Europe ; former Soviet Union ; post-communist transformation ; market economy ; privatization

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Åslund, Anders
• Event: Veröffentlichung
• (who): Center for Social and Economic Research (CASE)
• (where): Warsaw
• (when): 2021

Further information

• Handle: http://hdl.handle.net/10419/274087
• Last update: 10.03.2025, 11:45 AM CET