Impact of Privatisation on Economic Efficiency Changes in Industry
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Publication date: 2004-05-25
GNPJE 2004;192(5-6):29-43
The primary objective of the transition of the Polish economy initiated in the late 1980s was to approximate its structure to that of a market economy. This involved a major change in ownership of factors of production, which under the former system were in fact state-owned. Namely, it was realised that changes in the ownership structure of the economy may to a significant extent contribute to improvement of its efficiency and, consequently, to speeding up economic growth. The study deals with macroeconomic analysis of privatisation effects considered in the context of economic efficiency changes. This analysis, covering the years 1992-2001, is carried out at the level of particular sections and divisions of industry, with special reference made to manufacturing divisions. The main emphasis is put here not on privatisation processes themselves, but only on their results. Efficiency changes in specific sections and divisions of industry are analysed from the point of view of total factor productivity (TFP) changes, being one of the measures of macroeconomic efficiency assessment.
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