Privatization, Corporate Governance and the Emergence of Markets (Studies in Economic Transition)

Privatization is a major building block of transformation. Moreover, there are no precedents in Western countries for a privatization programme of the size and scope under way in Central and Eastern Europe. These peculiarities have sparked and sustained the continuing interest of economists and other social scientists in privatization. At the same time, the hitherto accumulated empirical evidence provides an unequalled opportunity to address issues, ranging from corporate governance to the relationship between privatization and the emergence of markets, which are likewise relevant for the understanding of established market economies. This book addresses these issues from a multi-disciplinary perspective, focusing on the theoretical groundwork of privatization and enterprise restructuring as well as on empirical evidence. The contributions show that changes in ownership titles are but one part of the story, being closely interwoven as they are with the transformation of corporate governance, enterprise restructuring, network transformation and the emergence of markets.