Various means of creating a private sector have been used in transition economies, including restitution, privatization of state firms through sales or voucher schemes, and start-ups of new private firms. The privatization of state-owned firms raises questions regarding the viability of future...

The Communist government of Czechoslovakia was ousted in the so-called Velvet Revolution of November 1989, and the new regime adopted as its goal the transformation of the economy to one based on markets and private property, and also one more dynamic and productive than its predecessor. This...