Privatizing government enterprises is one of the most difficult tasks in the transformation process taking place in the former socialist economies. What contribution do management buy-outs have to make in coping with that task?

The countries of Eastern Europe need to raise considerable finance not only in order to improve their balances of payments but also to adjust the structure of their economies over the long term to changed internal and external conditions. The adjustment measures require capital, but the Eastern...

Partial privatisation, in which a more or less large number of residul shareholdings remain in the hands of the state, is a widespread phenomenon in the countries of Central and Eastern Europe. The following paper compares experiences in Poland with those of the UK, where there has been...

In the centrally planned economies of Eastern Europe, monetary policy played a subordinate role, there were no capital-market institutions and the banking system was single-tier. All this has to be changed in the transition to a market economy. The example of Hungary, which abolished the...