In 1990 the privatisation debate in the ex-socialist countries advanced considerably. By now, the fundamental importance of private property for a market economy and the pitfalls of employee-ownership schemes are rarely disputed. Instead, the need for rapid privatisation and suitable methods of...

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?

When the Soviet Union was broken up at the end of 1991, the Russian Federation inherited a large industrial sector which was, however, hardly capable of surviving under market conditions. At about the same time market oriented reforms were begun. What has been accomplished so far? What are the...