At the end of the century, privatization has become a worldwide phenomenon. It is taking place in what was once called the first, the second, and the third world. The volume mirrors this expansion of privatization. In Part I on the economics of privatization, historical, theoretical, and politico-economic issues are covered. In Part II country studies are presented for China, the Czech Republic, Eastern Germany, Estonia, Hungary, Poland, Russia and the United Kingdom. In Part III a broader view on privatization is taken by including deregulation and the private provision of public goods and services.The book contains contributions by D.Bös, T.Eggertsson, R.P.Heinrich, P. Jasinski, H.Klodt, B.Krug, D.Lal, S.C.Littlechild, M. Mejstrik, P.Mihalyi, P.Plane, J.-J.Rosa, K.M.Schmidt and M.Schnitzer, and U.Siegmund.

Preface.- I. The Economics of Privatization.- When the State Changes Its Mind: The Puzzle of Discontinuity in Government Control of Economic Activity.- Privatization and Economic Growth: Reflections and Observations.- An Alternative to Privatization: Coping with Managerial Slack in Public Firms.- Public Choice Aspects of Privatization Policies: Driving Forces and Obstacles.- Methods of Privatization: Auctions, Bargaining, and Giveaways.- Comment on the Methods of Privatization: Politico-Economic and Historical Issues.- II. Country Experiences.- Privatization in the United Kingdom and Poland: The Model and Its Transformation.- Privatization in Eastern Germany: The Never-Ending Story of the Treuhand.- Privatization in the Czech Republic and Russia: The Voucher Model.- Privatization in Estonia and Hungary: Selling Out.- Comment on the Hungarian Experience: Trade Sales versus Mass Privatization.- Privatization in China: Something to Learn From?.- III. A Broader Perspective.- Regulation of Privatized Networks: The Case of Telecommunications.- Comment on the Regulation of Privatized Networks: The Case of Electricity Industry.- Private Provision of Public Goods and Services.- About the Authors.