Privatization in Hungary: Past, Present and Future

The paper examines privatization in Hungary over the last decade. It investigates the `spontaneous privatization' of the late 1980s and its relation to today's privatization efforts. It studies the changes in the economic structure of Hungary since 1988, and provides detailed information relating to the privatization efforts through the State Property Agency. It concludes by arguing for an `organized decentralization' of the privatization process as a necessary ingredient for achieving the privatization goals set by the government, and for moving Hungary away from a centrally planned to a market-oriented economy.