Post-Communist Poland

Paper Summary:

This paper describes the privatization process that Poland underwent following the demise of communist control of the country. The paper describes the country's struggles with the transformation from a command economy to a market system as well as the positive results that resulted from the transformation. Additionally, the paper describes the lessons that were learned from the transformation process and concludes with a positive assessment of the country's economic future not only for foreign investors but for local investors as well.

From the Paper:

"Even with all these positive results of small privatization in Poland, there were still problems with privatization as a whole in Poland. In September 1990, the Ministry of Privatization prepared and published its Privatization Program, Program Prywatyzacji, where it assumed that between 1991-1995, 50 percent of all enterprises would be privatized. At the time of the publication of the program there was a great deal of optimism that privatization and foreign investment would solve much of the country's economic problems and would be achieved fairly rapidly. "This illusion of rapid privatization became apparent when the newly established Office of the Plenipotentiary for Transformation Changes together with Western experts began preparing the framework for privatization in Poland. The foreign experts focused almost exclusively on a firm-by-firm sale strategy, which was similar to other programs implemented in other parts of the world. This customized approach was likely to bog down for political, economic, and financial reasons before a significant portion of the state firms could actually be privatized."

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