Abstract
Throughout the former centrally planned economies, the economic programs which have been adopted, or which in some instances are still being debated, have two important features in common. The first is the aim of bringing about a transition from central planning to some form of market-type economy. The second is the recognition that such an economy cannot be expected to function effectively while the bulk of each country’s productive assets remains in state hands. A market economy requires private agents able to make economic decisions in the light of the market signals they perceive, supplemented by their own judgements. Accordingly, there is general agreement in former centrally planned economies that a key component of a viable transition program must be a privatization program.
Some of the research for this paper was carried out with the help of an ESRC grant under the East-West Program.
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Hare, P.G., Canning, A., Ash, T. (1994). The Role of Government Institutions in the Process of Privatization. In: Blommestein, H.J., Steunenberg, B. (eds) Government and Markets. International Studies in Economics and Econometrics, vol 32. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-8366-4_7
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DOI: https://doi.org/10.1007/978-94-015-8366-4_7
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