Privatization and Its Limits in Central and Eastern Europe: Property Rights in Transition (Studies in Economic Transition)

Hella Engerer analyses the emergence, evolution and theory of property rights and establishes the limits for privatization of state owned enterprises in the transitional economies of Eastern Europe. She counters the assumption that reduction of the state sector helps to create the basis for a private property system, showing that privatization actually presupposes a stable framework including property order. She makes use of an outstanding methodological approach, reaching well beyond the limits of pure economic observation. This is a major contribution to the understanding of the emerging economic order of Central and Eastern Europe. Pt. I. Introduction -- Pt. Ii. Property Rights In Philosophy And Economics. 1. Theories Of Property In Classical Philosophy. 2. The Neoclassical Definition Of Property. 3. The Monetary Theory Of Private Property. 4. The Genesis And Changes Of Property As Portrayed By Old Institutionalists. 5. Property As An Institution: Summary And Prospect -- Pt. Iii. Property Rights In Planned Economies. 6. Legal Types Of Property And Ownership Guarantee. 7. Ownership Of The Means Of Production. 8. Employment Guarantee And Social Security. 9. Property Erosion And The Initial Situation Before Transformation -- Pt. Iv. Property Rights In Transition. 10. The Course Of Transformation. 11. The Question Of Property. 12. The Legal Solution. Hella Engerer. Includes Bibliographical References (p. 293-312) And Index. This text analyzes the emergence, evolution and theory of property rights and establishes the limits for privatization of state owned enterprises in the transitional economies of eastern Europe. It counters the assumption that reduction of the state sector helps to create the basis for a private property system, showing that privatization actually presupposes a stable framework including property order. The book makes use of an outstanding methodological approach, reaching well beyond the limits of pure economic observation. This book contributes to the understanding of the emerging economic order of central and eastern Europe "Using Germany as a focal point, this book asks whether foreign banks can solve the problems involved in creating a well-functioning market economy. Drawing on extensive interviews, as well as a range of English and German sources, it argues that there are no quickfix solutions to transition to a market economy. The German case is also accompanied by a broader review of the situation in Central and Eastern Europe. The findings contain lessons for academics, policy-makers and bankers in all countries undergoing financial development and deepening."--Jacket

Hella Engerer analyzes the emergence, evolution, and theory of property rights and establishes the limits for privatization of state-owned enterprises in the transitional economies of Eastern Europe. She counters the assumption that reduction of the state sector helps to create the basis for a private property system, showing that privatization presupposes a stable framework for property. This is a major contribution to the understanding of the emerging economic order of Central and Eastern Europe.

At first, this project was intended to be a study on transition and privatization in Romania, a country viewed with suspicion even today, due to its past, and considered a "taboo-zone", that seems to forbid even the slightest interest.