Accelerating Privatization in Eastern Europe: The Case of Poland

Authors

• Jeffrey D. Sachs, Harvard University

Abstract

The need to accelerate privatization is the paramount economic policy issue facing Eastern Europe. If there is no breakthrough in the privatization of large enterprises in the near future, the entire process could be stalled for years to come. Privatization is urgent and politically vulnerable; such international institutions as the World Bank and the European Bank for Reconstruction and Development can help speed the process byprovidingfinancial and technical support for the key operations of mass privatization. Because most of the effort in the next few years will involve industrial firms that are already subject to domestic or international competition, privatization should precede restructuring - at least for these enterprises.

Programs to privatize public enterprises will necessarily differ across countries, given the strong social and political dimensions of the process, though the need for rapid action is common to all the countries in the region. Because it is impossible to discuss specific efforts country-by-country, this paper focuses on Poland.

Disciplines

Commercial Law | International Trade Law | Law | Law and Politics

Recommended Citation

Jeffrey D. Sachs, Accelerating Privatization in Eastern Europe: The Case of Poland, 1 Cardozo J. Int'l & Comp. L. 71 (1992).
Available at: https://larc.cardozo.yu.edu/cjicl/vol1/iss1/8