Enterprise sales: paradoxes of transformational privatisation

Eva Voszka

Chapter 5 in Research Handbook on Privatisation, 2025, pp 89-112 from Edward Elgar Publishing

Abstract: The privatisation of state-owned enterprises, a key element in the transformation of Central and Eastern European post-communist countries, can be characterised by four controversial, paradoxical phenomena. The first one is uniqueness: besides many specifics, transformational privatisation also had similarities with the process in developed regions. The second is the state's role: while privatisation aims to reduce state intervention it was highly controlled by governments, and contrary to initial assumptions, public entities remained active players after large-scale ownership changes. The third paradox concerns the consequences of privatisation: it has been successful in some institutional and financial respects, but their overall effects proved to be ambivalent. Fourth, initially it was assumed that privatisation and market-oriented transformation were irreversible. Later signs, however, have shown the opposite not only in Central and Eastern Europe, but also in developed countries, when new crises hit.

Keywords: Transformational privatisation; Central and Eastern Europe; Crisis; Methods of privatisation; State's role; Uniqueness and irreversibility of transformational privatisation (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035309979
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