ABSTRACT
The establishment of a favourable legal and institutional framework is a crucial precondition for the successful implementation of the transition process in ex-socialist countries. The introduction of market competition, including the demonopolisation of highly concentrated economies and the expansion of the private sector’s role in economic activity, has been of crucial importance in that process. However, the lack of a legal and institutional framework in this field has seriously hindered the speed of the introduction of competition in the majority of transition countries.
