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Privatization and Competition

In: The Successes and Failures of Economic Transition

Author

Listed:
  • Hubert Gabrisch
  • Jens Hölscher

Abstract

Chapter 4 addresses the relationship between ownership transformation and the establishment of competition. Competition is the driving force of an innovative market economy with private ownership. But privatization — the core of ownership transformation — is a necessary policy to generate a competitive private sector, but it is far from being sufficient. We discuss the problem of the ‘soft’ budget constraint, which prevails in CPEs with state-owned firms and which is a stubborn attendant of transition, when ownership transformation is conducted in a non-competitive way and a non-competitive environment. A taxonomy of privatization presents the various ways in which ownership transformation has been pursued. Finally the difficulties in creating a competitive environment are illustrated with an analysis of anti-trust policy in transition countries.

Suggested Citation

  • Hubert Gabrisch & Jens Hölscher, 2006. "Privatization and Competition," Palgrave Macmillan Books, in: The Successes and Failures of Economic Transition, chapter 4, pages 60-78, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-62658-4_5
    DOI: 10.1057/9780230626584_5
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