Privatization success and failure: finance theory and regulation in the transitional economies of Albania and the Czech Republic

Article Abstract:

Former countries of Eastern Europe have undergone radical changes from communist to capitalist economies, with sweeping changes such as the privatization of firms under state control. The Czech Republic was able to make a smoother transition due to factors such as strong fundamental assets, nearness to Western markets, and prior experience with capitalism. Albania's transition was not as successful due to a lack of experience with a free market system, an antiquated financial system, and lack of resources.

Economic Programs, Administration of Economic Programs, Czech Republic, Economic policy, Developing countries, Albania

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A theory of privatisation

Article Abstract:

Effective privatization can be implemented by reducing the influence of politicians on the firm's management. A comparison of two types of management control, by politicians and managers, indicate that politicians are more interested in getting votes than improving the firm's efficiency. Managers, especially of firms with profit-conscious owners, tend to improve the firm's efficiency and implement restructuring. Strict monetary policies also contribute to the effectiveness of privatization.

Business, Political aspects, Government business enterprises, Public enterprises

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On the cutting edge between policy and academia: Challenges for public economists

Article Abstract:

Two major trade-offs in privatization and social insurance are examined.

Social security, Civil society

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