Enterprise Reform and Privatization in Socialist Economies

摘要

The paper looks at the past performance of State-owned enterprises (SOEs) in socialist countries, examines why so many of them are opting for fundamental reform of enterprises including privatization, and assesses reform experience to date and future prospects. The analysis is limited to seven socialist countries that are active members of the World Bank group: Algeria, China, Hungary, Laos, Mozambique, Poland and Yugoslavia. These seven countries have long tried to improve SOE performance by restructuring--attempts short of ownership change--with meager results. Recent reforms in most of these countries broaden the choice of instruments by including privatization and liquidation. The path for, and intensity of, reform varies among the countries reviewed. The common denominator is that these seven governments have recognized the need to go beyond past, partial steps in their attempts to reform SOEs and improve their performance. (Copyright (c) 1990 The International Bank for Reconstruction and Development/The World Bank.)