The end of the 1980s. Eastern Europe is getting rid of the pro-Moscow yoke in the economy. The socialist economy could not compete with capitalism. Economic reforms began in all countries. Privatization is one of the pillars of the reform. All European post-socialist countries carried it out in the early 1990s. Some did it quickly and efficiently (Czechoslovakia, Hungary, Poland, Estonia, and others), and some did it long and painfully (Ukraine, Russia).
When almost all of Eastern Europe had completed the privatization process in 2-3 years, Ukraine was hesitant about whether privatizing it was necessary. Especially since paternalistic sentiments dominated the society then, and former communists had a majority in the parliament. We will tell you about the history of privatization in our new video.
Read more about the reforms in the CASE Ukraine report "Economic Priorities for Postwar Ukraine": bit.ly/Economic_priorities_UA
This video is based on a lecture by Finpoint's Founding Partner Sergiy Budkin, "Privatization in Ukraine: What Went Wrong and How to Do It Right". It was partially funded by donations collected from the lecture. The video also uses materials by Ihor Lyashenko. In the late 90s and early 2000s, he was the editor-in-chief of the Ukrainian Investment Newspaper. "The Price is Right thanks them for their participation in the creation of the video.
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00:00 Introduction
01:49 Lease with purchase as indirect privatization
03:58 Red directors blocked the arrival of foreign investors
04:33 Small-scale privatization
06:08 Massive certificate privatization
14:17 Positive changes from privatization
14:43 Negative changes from privatization
16:36 Privatization of Kryvorizhstal and others
19:31 What went wrong and how to make it right
20:33 How investors enter the country
24:20 A potential investor arrives in Ukraine
26:23 Rudimentary arithmetic
29:14 Who carries out privatization
29:58 What needs to be done?
32:12 A golden share for the state
33:55 What to do with Russian assets
38:33 Myths about privatization
#privatization #economy #Ukraine
1 июн 2024