Peter,
The case of Slovenia is, I would suggest, somewhat unique. Since
the economy was already a (managed) market economy, it was
not necessary to establish the institutions of markets, with the
exception of the capital market where the existing capital market
had been replaced by a
In this context I'm referring to the specific problem of changing over the installed
capital stock. There is another restructuring problem in the CEE, which is more
social (i.e. social relations of production) and has to do with disseminating a
management system capable of competing with W.
We shouldn't underestimate the problem of shifting the structure of production.
This was the same problem (only on an even larger scale) faced by the east
Europeans, and it was accomplished through massive downsizing. But there are
two points to bear in mind:
1. The equity writeoffs accrued to
Peter,
What are you suggesting here? What kind of restructuring are you
referring to? As someone who has spent the last 10 years studying
and publishing on the Slovenian transition process, I'm mystified at
what you are referring to.
Paul Phillips,
Economics,
Universityof Manitoba
2.
