Positive changes from Privatization in Ukraine
The end of the 1980s. Eastern Europe is shedding the pro-Moscow yoke, including in the economy. The socialist economy could not withstand the competitive struggle with capitalism. Economic reforms began in all countries. One of the key elements of the reform was privatization. All European post-socialist countries conducted it in the early 1990s. Some quickly and effectively (Czechoslovakia, Hungary, Poland, Estonia, and others), some slowly and painfully (Ukraine, Russia).
When almost all of Eastern Europe undertook the privatization process in 2-3 years, Ukraine hesitated - whether privatization was needed at all. Moreover, at that time, paternalistic sentiments dominated society, and former communists had a majority in the parliament. We will tell the history of privatization in our new video.
More details about the reforms can be found 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's founding partner Serhiy Budkin "Privatization in Ukraine: What Went Wrong and How to Make it Right." It is partially funded by donations collected from the lecture. The video also uses materials authored by Ihor Lyashchenko, who in the late 1990s-early 2000s was the editor-in-chief of the "Ukrainian Investment Newspaper." "State Price" thanks them for participating 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 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 it can be done right
20:33 How investors enter the country
24:20 A potential investor came to Ukraine
26:23 Rudimentary arithmetic
29:14 Who is carrying out 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
