The post-communist European countries have faced enormous political and economic problems in attempting the transformation to a market oriented economy through two of the most important channels influencing this process--privatization and foreign investments. Focusing on Russia, the Czech Republic, Hungary, Bulgaria, and Poland, the authors examine the trends toward privatization and the problems facing the countries economic managers and foreign investors. They explore what can be done to increase foreign direct and equity investment given the political risks involved in the economic transformation. Scholars and students of international economics, international trade, Russian and Eastern European studies, and government and international agencies should find this study on the relationship between privatization and foreign investment informative and useful.
About the Author:
ILIANA ZLOCH-CHRISTY is currently a senior associate at St. Anthony's College, Oxford University. She previously held appointments at Harvard and Stanford Universities, as well as at the World Bank, the United Nations, and the International Monetary Fund. Her speciality is the East-West financial relations and the political economy of post-communist Europe. She is the author of Eastern Europe in a Time of Change (Praeger, 1994), East-West Financial Relations: Current Problems and Future Prospects (1991), and Debt Problems of Eastern Europe (1988).