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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Comparison of Privatization of Economies of Eastern Africa and Eastern Europe
Authors:Due, Jean M.ISNI
Schmidt, Stephen C.
Year:1995
Periodical:African Development Review
Volume:7
Issue:1
Period:June
Pages:50-75
Language:English
Geographic terms:Tanzania
Zambia
Subjects:privatization
Economics and Trade
External link:https://doi.org/10.1111/j.1467-8268.1995.tb00065.x
Abstract:Privatization of State-owned enterprises is being pushed in many countries by the World Bank and the IMF. This article compares the manner in which two formerly socialist countries in Eastern Africa (Tanzania and Zambia) and Bulgaria in Eastern Europe went about privatization during the last six to ten years. It shows that there is a striking similarity between liberalization and privatization strategies in the three countries, with the establishment of public authorities, the valuation/appraisal of State-owned enterprises, the training of staff to undertake this function, and the advertising of enterprises for sale in the national and international press. In all three countries liberalization and privatization were implemented before the infrastructure to replace former policies was in place. In all three countries many citizens believe that the pace of privatization has been too slow as there has been high inflation, high unemployment, redeployment of employees (except in Bulgaria) and a large volume of non-food imports which has led to a fall in domestic production. The restructuring of the banking system has meant that credit has been severely restricted in all three countries. In Tanzania and Zambia the collateral requirement necessary for borrowing means that credit has been even more severely restricted, especially for small farmers and women. Bibliogr., note, sum. in English and French.
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