The Privatization Process in East-Central Europe: Evolutionary Process of Czech Privatization

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Describing the evolution process of privatization in Central and Eastern Europe based on the experiences of the Czech Republic, this work argues that privatization is a critical complement to the standard International Monetary Fund restructuring and adjustment package (anti-inflationary macroeconomic policy, liberalization of prices, and foreign trade). The Czech experience is unique in its combination of mass and individual privatization, resulting in a rapid capital market evolution.