1- Privatization: Which types

1- Privatization: Which types (modes) ofprivatization were used in transition countries? Choose one mode ofprivatization and explain its positives and negativesfeatures/characteristics.

2- Transition: List and explain threepoints/arguments/questions from Janos Kornai’s article “What theChange of System From Socialism to Capitalism Does and Does NotMean.”

Answer:

1. Types (modes) of privatization that were used in transitioncountries are restitution, Direct Sales and Equity Offerings,Management-Employee Buyouts and Mass Privatization/voucherprivatization.

Voucher privatization its positives and negativesfeatures/characteristics:   Voucher privatizationbenefits to subdue the deficiency of domestic capital. It helps totackle the alleged inequitableness of other methods and evades thecharges of a sell-out of national assets to foreigners. The snagslinked with valuing enterprises before privatization are alsoevaded. It is a swift, modest way of completing large, economy-wideprivatization plans as needed by the transition.

           But, the foremost risk involved is that a dispersed ownershipstructure will have dearth of focus and power so as to directreal/constructive corporate management, which may frightenprospective new sources of capital.


 
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