Concluding Remarks

Abstract

This book has attempted to provide information for starting entrepreneurship in CentralEast European countries. The main issues in this are :

With regard to the enormous distortions of entrepreneurial structures which had been wrought on the economies of CentralEast European countries during nearly half-a-century of existence under communist rule, it is not astonishing that changes in this sphere are proceeding at a slower pace than hoped for. Initially, the privatization of most state-owned assets was envisaged to be carried out within two to three years. In Hungary — in spite of three years of strenuous efforts in this respect — only about 10 percent of formerly state-owned enterprises are operating as private firms. In Poland the share of those state-owned enterprises which were not “privatized by liquidation”, i.e. who operate now as private firms, is even lower. In the CSFR sales of state-owned enterprises concluded up to the end of 1992 represent only 6 percent of the total of enterprises earmarked for privatization. And even after the Fund of National Property will have handed over the shares of enterprises privatized in the “first wave” of the voucher privatization to the new owners, the percentage of privatized enterprises will reach no more than 35 percent.