In This Review

The Privatization Process in Central Europe
The Privatization Process in Central Europe
By Roman Frydman and Others
262 pp, Oxford University Press/Budapest: Central European University Press, 1993

Shifting business enterprise from state to private management and control is widely regarded as a key element of reforming the economies of formerly communist countries. These largely descriptive volumes, the product of the Privatization Project of Prague, financed in part by George Soros, present the legal basis and actual practices of privatization of business enterprises as of late 1992 in five formerly centrally planned economies in eastern Europe and five countries that emerged from the former Soviet Union. The descriptions suggest how complicated the process is. In a rapidly changing field, they are bound to become quickly dated on detail, but they provide a clear exposition of the framework adopted by each country at the outset of the process.