It is argued that the impact of privatisation should be seen on company performance and productivity. The effects of "levelling the playing field" between the old state sector (whether or not now privatised) and new entrants to the industry will also be considered. Privatisation, in the sense of...

The purpose of this paper is to consider the problems which arise when establishing a new institution such as a currency in a newly independent state, in our case Lithuania. After it gained independence and followed it’s own path of economic and political development exchange rate management...

This paper provides an empirical analysis of the relations between industrial enterprises and the banks in Russia from the perspective of enterprises, using data from a World Bank survey of 439 large and medium industrial Russian enterprises conducted in mid-1994. The paper finds evidence of a...

Estonia has made significant progress in the liberalisation of the economy and in macroeconomic stabilisation during the last years of economic transition. Tight monetary and fiscal policies have been the main factors of the macroeconomic stabilisation, and there are some important signs...

The purpose of this study is to provide a macroeconomic analysis of fiscal policy in the Czech Republic during the transformation period 1989-1995. In contrast to those studies which are based on "decline accounting", disentangling different factors from each other and ascribing to them specific...

This paper focuses on the political economy of privatization in its second phase in Hungary, the country which, overall, has gone furthest in privatizing public utilities, introducing elements of competition and setting up regulatory mechanisms and institutions to monitor them. The background to...

This paper offers an analysis of payment arrears in the Russian enterprise sector, using both official aggregate data and data from a World Bank survey of 439 large and medium industrial Russian enterprises conducted in mid-1994. The focus is on trade credit arrears, tax arrears, and wage...

This paper considers the current performance and future prospects of newly-established private manufacturing firms in Russia, using information gathered in a mid-1994 World Bank survey of 439 Russian industrial firms, including forty-odd de novo private firms. The paper finds that in terms of...

The paper includes: (i) a descriptive account of what has actually happened in the Baltic States in regard to agricultural sector reforms; (ii) an analysis of the institutions, policies, laws and regulations underlying the process of privatizing farming and land ownership; (iii) the interaction...

The primary emphasis of Lithuania’s economic transition policy has been placed on the restructuring of ownership relations. Lithuania chose one of the most ambitious methods of privatisation compared to other countries in Central and Eastern Europe, privatising two- thirds of state property....