Privatisation in Transforming and Developing Economies

1 Conceptual Foundation of Privatisation.- 1.1 Privatisation and Reform Discussion: The Role of State and Private Sector.- 1.2 Privatisation as Central Reform of the Public Sector.- 1.3 Fundamental Differences between Privatisation in Developing Countries and Eastern Reforming Countries.- 1.4 Typical Process Flows of an Ideal Privatisation Programme.- 1.5 Selection of Enterprises for Privatisation.- 1.6 Privatisation Methods.- 1.6.1 Material Privatisation.- 1.6.2 Privatisation of Management.- 1.7 Obstacles to Privatisation.- 1.8 The Holistic Approach to Privatisation.- 2 Measures on a Macroeconomic Level.- 2.1 Macroeconomic Determinants.- 2.2 Market-oriented Economics as Prerequisite for Successful Privatisation.- 2.2.1 Legal and Institutional Framework.- 2.2.2 Securing and Promoting Competition.- 2.2.3 Establishing a Working Price System.- 2.2.4 Financial Market Reform.- 2.2.5 Adapted Economic Opening.- 2.2.6 Development of a Consistent Tax System.- 2.2.7 Labour Market and Socio-Political Order.- 2.3 Stabilisation Measures.- 2.4 Regional and Sectoral Structural Reforms.- 2.5 Labour Market and Social Policies.- 2.6 Information and Public Education.- 2.7 Timing of Individual Reform Measures.- 3 Measures in the Enterprise-Relevant Environment.- 3.1 The Important Position of Meso Level Institutions.- 3.2 Conception of an Efficient Privatisation Agency.- 3.2.1 Independent Institutions or Subordinated Government Entities?.- 3.2.2 Where do the Ownership and Control Functions lie?.- 3.2.3 How are different Interests represented?.- 3.2.4 Which Organisational Structure is recommended?.- 3.2.5 Use of External Experts?.- 3.3 Institution Building and Strengthening of Enterprise-Relevant Entities.- 3.3.1 Commercial Associations and Chambers of Commerce.- 3.3.2 Export and Investment Promotion Entities.- 3.3.3 Finance Institutions.- 3.3.4 Supervisory Institutions.- 3.3.5 Strengthening Enterprise-Relevant Services.- 3.4 Creation of a Privatisation Network.- 4 Measures on the Enterprise Level.- 4.1 The Relationship between Privatisation and Rehabilitation.- 4.2 The Most Important Privatisation Steps in Time Sequence.- 4.3 Privatisation Strategy on the Basis of a Company Analysis.- 4.4 Company Valuation.- 4.5 How to promote the Sale of State-run Companies.- 4.6 Negotiations with Potential Investors.- 4.7 Measures for ensuring the Sustainability of Privatisations.- Appendices.- A Checklist for evaluating the Legal Policy of the Status Quo.- B Checklists for Support of Company Analyses.