ABSTRACT

Privatization and the monetization of the economy are not only difficult tasks to complete, but are impossible to even begin efficiently without substantial political and public support. The transformation of the Central and East European planned economies to market economies is an unexpected development both for those who are in the midst of it and those observing it. The unforeseen and rapid weakening of Soviet power forced both the politicians of the earlier system and the new political personalities and parties who came to the fore during the transformation to face a new situation, both in the Soviet Union itself and in the countries of Central and Eastern Europe. The conclusion one must draw concerning Central and East European privatization programs that they can be expected to be successful only if the privatization process itself is separated from government administration.