The Spontaneous Solution: Bottom-up Privatization

Hella Engerer

Chapter 14 in Privatization and its Limits in Central and Eastern Europe, 2001, pp 235-244 from Palgrave Macmillan

Abstract: Abstract Bottom-up privatization, meaning the creation of private enterprises ex nihilo, received very little attention in contrast to privatization “from above” at the beginning of transformation.1 The assumption was that after the liberalization of economy and legal permission of private property, decisive conditions were set to have private enterprise develop on its own. The few economists (such as Murrell (1992:15ff)) who attributed an important role to bottom-up privatization, even held the opinion that alone through the establishment of new business the private sector would increase quickly and that thus the state sector whose privatization would be costly should not be forced since it would automatically lose importance.

Keywords: Family Business; Real Interest Rate; Bank Loan; State Sector; High Interest Rate (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-0-230-52300-5_15

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DOI: 10.1057/9780230523005_15

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