ABSTRACT
Much has been written about privatization; a survey of empirical studies on privatization was compiled by Megginson and Netter (2001). As well, there is considerable literature about how the pace of privatization affects unemployment (Bolton and Roland 1992; Estrin 1994; Frydman, Rapaczynski, and Earle 1993; Hughes and Hare 1992; Ivy 1996; Murrell 1993; Seibert 1992; Simoneti 1993; Wilson 1992). Where privatization has taken place rapidly, many people have been pushed to self-employment (Meager 1992). Where privatization and downsizing of state-owned enterprises causes mass unemployment, there is often a mismatch between market demand and skills available in the workforce. The workforce needs retraining in skills that are in demand. Certain skills, that are not deemed necessary in the West, can be very useful in a postcommunist economy. Entrepreneurship training can be most rewarding.
