How the stock market was formed in Eastern Europe
The end of the 1980s. Eastern Europe is freeing itself from the pro-Moscow yoke, including in the economy. The socialist economy could not withstand the competitive struggle against capitalism. Economic reforms began in all countries. One of the linchpins of reform was privatization. All European post-socialist countries carried it out in the early 1990s. Some quickly and effectively (Czechoslovakia, Hungary, Poland, Estonia, and others), some long and painfully (Ukraine, Russia).
When almost all of Eastern Europe conducted the privatization process in 2-3 years, Ukraine hesitated - whether privatization was needed in principle. Moreover, at that time paternalistic sentiments dominated society, and former communists had the majority in parliament. We will tell you the history of privatization in our new video.
More about the reforms in the CASE Ukraine report "Economic Priorities for Post-War Ukraine": https://bit.ly/Economic_priorities_UA
This video is based on a lecture by Finpoint co-founder Sergey Budkin "Privatization in Ukraine: What Went Wrong and How to Make It Right." It was partially funded by donations collected from the lecture. The video also uses materials by Ihor Lyashenko. At the end of the 1990s - early 2000s, he was the editor-in-chief of the "Ukrainian Investment Newspaper." "Price of the State" thanks them for their participation in the creation of the video.
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00:00 Introduction
01:49 Lease with buyout as indirect privatization
03:58 Red directors blocked the influx of foreign investors
04:33 Small privatization
06:08 Mass certificate privatization
14:17 Positive changes from privatization
14:43 Negative aspects of 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 arrived in Ukraine
26:23 Rudimentary arithmetic
29:14 Who conducts the privatization
29:58 What needs to be done?
32:12 Golden share for the state
33:55 What to do with Russian assets
38:33 Myths about privatization
#privatization #economy #Ukraine
