This paper presents the actual situation of the ownership transformations in Poland after 20 years since the beginning of the transformations of the market, whose the principal purpose is increase in the efficiency of the use of the company resources. Presented data and comments are based on the number and structure of the companies covered by ownership transformations, process of commercialization, privatization and liquidation.
Between 2004 and 2009, Stocznia Szczecińska Nowa Sp. z o.o. (SSN) was one of the largest state-owned Polish companies in the shipyard sector. The privatization of the shipyard was a pivotal element of the economic plans put forward by the Governments of Marek Belka, Kazimierz Marcinkiewicz, Jarosław Kaczyński and Donald Tusk. However, this postulate was not implemented by their respective Cabinets. The difficulties in privatizing the shipyard were due to a change in the policy towards the shipbuilding industry, delays in preparing economic plans which followed from the fact that the European Commission (EC) did not accept the restructuring plans made by the companies interested in taking over the property and the assets of the shipyard, and also because the authorities responsible for finding investors were incompetent in doing so. Marek Belka’s government plan to consolidate the shipbuilding industry, aimed at selling all the property and assets of SSN within the framework of the Corporation of Polish Shipyards, was rejected by the government of Marcinkiewicz. The guidelines for privatizing the shipbuilding industry promised by the Marcinkiewicz government were never formulated or defined for the sector. The program was later accepted by the Kaczyñski Government, which despite earlier promises failed to privatize the shipyard. Donald Tusk’s Cabinet was not able to live up to the challenges connected with the shipyard industry crisis. Negotiations between the Polish Government and Amber Sp. z o.o. over the privatization plan for the shipyard failed. The shipyard’s restructuring plan produced by Mostostal Chojnice SA was not accepted by the EC. The Tusk government failed to find an investor in the public tenders announced for the property and assets of the shipyard – a Qatar company withdrew its initial proposal to buy the shipyard and there were no other investors willing to take it over. This was the main reason for the ensuing bankruptcy of the Szczecin shipyard.
Decentralization and privatization have been the key elements of the new public management agenda for reshaping public services. Both trends have also affected the area of health services, with particular focus on hospital management. This paper describes the process of decentralization of healthcare and hospital governance in Poland for recent decades and discusses whether the increasing role of local and regional governments in hospital management has triggered the process of privatization of healthcare units. Deriving from statistical data and qualitative assessment, it concludes that while privatization of hospitals in one of the important trends in the Polish health policy, its scope is limited by several obstacles of economic, political and social nature.
Since rural China began to implement economic structural reforms in the late 1970s, township and village collective enterprises (TVEs) have attained significant expansion for a long time. They have became not only sections with most rapid economic development, but also experimental sites for the rural reconstruction of “common prosperity.” However, since the mid-1990s, TVEs have been experiencing a property rights transformation of rapid privatization. One of the noteworthy social consequences of this transformation is how the redefinition of property rights may lead to new differentiation and distribution of wealth and resources, in whose hands will wealth concentrate, and whether the concentration process will lead to new inequalities. Exploring the social process of property rights definition can help our understanding and analysis of these questions. Moreover, empirical materials concerning this process are complete and abundant, furnishing the sufficient conditions for new examinations and summaries on their basis.
The paper assesses the current clamor and actual privatization of water in Africa. Though this is said to be done in view of wastage and declining access of people to water, this paper submits that the transformation of the social value of water to economic, is rather a continuation of capitalist quest for profit making, which eventually is at the expense of the poor majority.
With a growing dependency on the private participation across the globe, India also implemented the economic reforms process but these reforms have not been supported by any major amendments in the labour Laws though privatization of public enterprises, is one of the key issues in the ongoing economic reforms and India has a major workforce employed in the PEs. Global experiences in privatization appear to suggest that there should be a clear-cut privatization law, which will sustain the logic of what to privatize, how to privatize and for whom to privatize, but till today India has not even considered enacting such a law. The presence of old labour laws and the absence of a privatization law present a complex situation at the time of the second generation of economic reforms undertaken by India. This paper tries to investigate how the Indian Labour law is helpless in helping the labour and in protecting the larger interest of the PE’s reforms.
The article provides an assessment of the role of FDI in the regional economy based on the levels of economic efficiency: structural changes of the economy, economic stimulating activity, employment, modernization of the production apparatus and exchange with foreign countries. The following considerations seek to answer the questions to what extent has FDI become a catalyst for economic growth in the region and has it been a tool for benefiting the investors. The author drew attention to the effects generated by foreign companies in the domestic environment and their response to the global economic crisis.
PL
Artykuł zawiera ocenę roli bezpośrednich inwestycji zagranicznych (BIZ) w regionalnej gospodarce w podstawowych płaszczyznach efektywności ekonomicznej: zmianach strukturalnych w gospodarce, pobudzaniu aktywności ekonomicznej, zatrudnieniu, modernizacji aparatu wytwórczego oraz wymiany z zagranicą. Rozważania zmierzają do odpowiedzi na pytanie: na ile zjawisko to stało się katalizatorem wzrostu gospodarczego w regionie, na ile zaś było wyłącznie instrumentem realizacji korzyści inwestorów? Autorka zwróciła uwagę na efekty generowane przez przedsiębiorstwa zagraniczne w krajowym otoczeniu oraz ich reakcję na kryzys światowy rozpoczęty w 2008 r.
The systemic transformation in Poland, aimed, among others, at activating market mechanisms, has resulted in a change in the ownership structure and privatization that has accompanied it. Privatization processes are commonly considered to be principally motivated by an increase in efficiency of the economy based on the assumption that efficiency of private enterprises is higher than that of public sector ones. The main aim of the article is to verify the above hypothesis. An analysis of efficiency of public and private sector enterprises, taking into account their organizational and legal forms, made on the basis of Central Statistical Office information, confirmed the above hypothesis. Private enterprises use their assets better and take advantage of the financial leverage mechanism to a larger extent. It should be emphasized, however, that private enterprises are more adversely affected by economic fluctuations caused by the crisis.
The paper focuses on the origins, organizational structure and operations of corporate groups in Russia and their role in the economy. Corporate groups began to emerge and develop in Russia in the early 1990s in the wake of the privatization of state-owned enterprises, the author says. Their development was influenced by the so-called “loans for shares” program and a financial crisis in 1998. Most of Russia’s corporations have developed through either vertical or horizontal integration, and they also emerged in the form of conglomerates. Most corporations operate in industries such as oil, gas, chemicals, petrochemicals, power, metallurgy, steel and machinery. Characteristically, there are specific financial and interpersonal ties between representatives of individual companies within each group, Fiedorczuk says. In most Russian corporate groups, the main owners are oligarchs, or wealthy businessmen with an extensive network of political connections. Corporations play an important role in Russia’s economic, political and social life, the author notes. But they are also under heavy pressure from the country’s political authorities. As in other developing countries, corporate groups in Russia outperform single businesses in terms of financial and economic indicators. Overall, corporations may be an optimal response to market and government failures in a process of economic transition, Fiedorczuk concludes.
The article presents a legal analysis of regulations dealing with ownership transformation in Poland in the period 1990–2014. The paper also makes reference to the social and economic conditions at the time, which influenced the character of the first regulation for state-owned enterprises and subsequent evolution of the Polish legal framework for ownership transformations. The author underlines frequent changes to the laws which resulted from the necessity to reach privatizations goals as set by the Minister of the State Treasury.
PL
Przedmiotem artykułu jest analiza dogmatycznoprawna obowiązujących przepisów regulujących problematykę przekształceń własnościowych w Polsce w latach 1990–2014. Merytoryczny zakres badań odnosi się także do uwarunkowań społeczno- gospodarczych, które miały wpływ na kształt pierwszej regulacji dotyczącej przedsiębiorstw państwowych, a następnie ewolucję ustawodawstwa regulującego przekształcenia własnościowe. Autorka zwraca uwagę na dużą dynamikę przepisów, która wiązała się z koniecznością osiągnięcia przez ustawodawcę celów prywatyzacyjnych określonych przez Ministra Skarbu Państwa.
The General Czechoslovak Exhibition of 1991 was held in Prague Exhibition Grounds in Holešovice from 15 May to 28 October. Under the banner “The World We Want to Live in”, it sought to commemorate the grandiose General Land Centennial Exhibition, which was held in the same venue in 1891. It was also meant to present the state of Czech and Slovak manufacturing, agriculture, environment, arts and style, and attract large audiences from among both the general public and international business. Although the idea of the centennial exhibition had been raised by the previous Communist government, the practical arrangements for it were only implemented in the frantic months following the Velvet Revolution. As this took place at the beginning of the economic and political transformation, the concept of the event, and the funding and organization of it, were affected by the changing economic conditions and new political conflicts and tensions − between the federal, republic and municipal levels of decision-making, and between the interests of public representative bodies and the commercial exploitation of the post-Communist city.
The aim of this paper is to analyse the process of privatization in Poland.We reflect on the winners and the losers of transformation processes as such, but also of their particular elements which are directly connected with privatization. Privatization in Poland started in the 80s. and is still continuing. From the very beginning privatization was viewed, by liberal governments in Poland, as the key issue in the process of political system transformation, market reforms and implementing economic freedom. Although 60% of Polish citizens agree that capitalist economy basing on private entrepreneurship is the best system for our country, many Polish citizens still represent rather critical approach to market economy because the process of privatization in Poland has been connected with two negative factors: unemployment and corruption. Yet Polish people start to accept new reality seeing advantages of capitalist aspects over socialist ones.
Regarding the effectiveness of privatization, two schools of thought are distinguished: a school in favor of privatization in general and a school that judges the success of privatization to be dependent on the institutional context. This article discusses the arguments of both schools and presents a case study on the privatization processes that did take place in Kosovo. The Kosovo case is a critical case as Kosovo was a post-conflict country with a deplorable institutional setting at the time it initiated the privatization processes. If privatization was successful anyway, this would make for a strong argument in favor of privatization in general. The outcomes of the case study show, however, many unintended and negative effects of privatization in the Kosovo context. The conclusion, therefore, disputes the claim that privatization is beneficial in general, irrespective of the institutional setting. Instead, the article makes a plea for creating a favorable institutional setting before starting far-reaching transformations through large-scale privatization. The issues arising from this article are important for policy-makers and international missions considering implementing similar programs to other post-conflict countries.
The paper focuses on sectors, methods, and spheres of the space activity of private companies, to provide empirical analysis of space applications and implications for global security. Special emphasis has been given to private companies offering access to satellite imagery and satellite remote sensing, as well as companies entering outer space with new and prospective capabilities as space mining. The article explains the rising importance of geo-intelligence, space surveillance and telecommunication for global security and new kind of security challenges and vulnerabilities such as environmental problems in outer space or technological challenges to security. The author argues that profit-oriented companies play crucial role in new security environment in the US, efficiently changing the law and practice. Finally he points out that new and growing market for subcontractors in space applications raises questions on growing dependence on private resources in traditional sphere of state activity, namely security, in this case provided from and through the outer space.
Decentralization and privatization have been the key elements of the new public management agenda for reshaping public services. Both trends have also affected the area of health services, with particular focus on hospital management. This paper describes the process of decentralization of healthcare and hospital governance in Poland for recent decades and discusses whether the increasing role of local and regional governments in hospital management has triggered the process of privatization of healthcare units. Deriving from statistical data and qualitative assessment, it concludes that while privatization of hospitals in one of the important trends in the Polish health policy, its scope is limited by several obstacles of economic, political and social nature.
The political and economic reforms in Russia since the beginning of the 1990s have made it possible to build a new economic system. Over more than 25 years, this system has evolved under the influence of, among others, economic and financial crises, which resulted in changes in the role of the state, ownership structure and the specificity of the corporate sector. The main goal of the paper is to identify the key elements and features of the economic system in Russia in the specified stages of its evolution and to indicate the perspectives of changes. To achieve this goal, an in-depth analysis was made of the literature and statistical data. The author puts forward the thesis that there are still some premises of the evolution of the economic system in Russia which resulted from the need for structural changes and the exhaustion of the current model of economic growth. However, in the immediate future, the economic system in Russia will not evolve significantly because of the economic stability and the lack of political will to make significant reforms.
The article deals with the issues of transformation of ownership of the banking system in Ukraine and Poland. Poland’s experience of successful privatization of the state banks has also been discussed. The place of the state banks preparing for privatization in the banking system of Ukraine has been analysed. By using the method of calculating the concentration of capital by the indicators of the share of the entity in the market (Pj), concentration ratio CRn and the Herfindahl-Hirschman Index (HHI), it has been found that the concentration level of the banking system in Ukraine in recent years is growing. Given the unstable situation, we can assume that the increased concentration within the normal range is a form of consolidation. However, given the current problem of hidden monopolies in Ukraine today, the transformation of ownership in the banking sector needs special attention of banking regulators to assess the possible socio-economic consequences of concentration.
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