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Original Articles

ROMANIA: A CASE STUDY IN DELAYED PRIVATIZATION

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Pages 1221-1234 | Published online: 07 Feb 2007

REFERENCES

  • Boycko , Maxim , Andrei , Shleifer and Robert , Vishny . 1995 . Privatizing Russia Cambridge MA , , USA : MIT Press .
  • Havrylyshyn; Oleh; John Odling-Smee. “Political Economy of Stalled Reforms”, Finance & Development, International Monetary Fund, (September, 2000) 37.1
  • Shleifer , Andre and Daniel , Treisman . 2000 . Without a Map: Political Tactics and Economic Reform in Russia Cambridge MA , , USA : MIT Press .
  • Hellman and Joel , S. January 1998 . Winners Take All, The Politics of Partial Reform in Postcommunist Transitions' . World Politics , 50 : 203 – 34 .
  • “Romania: Disillusions’ Once Rejected Heir.” The Economist (June 10, 2000):57
  • Leiis the plural of leu (lion), the basic unit of Romanian currency. Inflation has deflated the leuto more than 21,000 leiper dollar in mid-2000 from 120 leiper dollar in 1991
  • “Privatization in Romania,” Document of the Romanian State Ownership Fund, (March, 2000)
  • Behr , Edward . 1991 . Kiss the Hand You Cannot Bite: The Rise and Fall of the Ceausescus New York : Villard Books .
  • “NSF Holds Final Meeting Before Reformation,” BBC Summary of World Broadcasts, Bucharest Home Service, (Aired February 3, 1990)
  • Regies Autonomestranslates as “Self Sufficient Companies.” They are self-sufficient in that they don't have to look for a market. Included in this category are utilities, mass transit companies, railroads, symphony orchestras, and defense suppliers
  • “Privatization Programs in Romania,” National Agency for Privatization, (November, 1992): 1
  • Friedman , Roman , Rapaczynski , Andrzej , Earle and John , S. 1993 . “ The Privatization Process in Central Europe ” . 238 – 239 . Budapest : Central European University Press .
  • Ibid
  • McCollum and James , K. 1998 . Is Communism Dead Forever? 75 Lanham , Maryland : University Press of America .
  • Friedman et al., 246–247
  • Boglea; Anca. “Different Countries Follow Different Ways of Privatization,” Business Journal , Romania, (February, 1994): 7. In an interview, Mr. Edward Nassim, director of the European Branch of the International Finance Corporation makes the point that MEBO is best for small companies, but can also work with medium sized companies
  • Interview with Dana Stanescu, Economics Section, U.S. Embassy, Bucharest, June 1, 2000
  • Emergency Ordinance 88/1997, as approved by the Romanian Parliament as Law Nr. 44/1998. Presented on CD Rom, “FPS: Privatization in Romania,” June, 2000
  • “Privatization Trends in Romania: Opportunities for Foreign Investors.” U.S. Embassy, Bucharest, Romania, 2000
  • These joint ventures with the foreign capital contributions included were: Viromet Polimeri (Victoria) with Putolite Ltd, Great Britain, for $15.8 million. Nectar (Pascani) with Pak Holding, Turkey, for $8 million. General Turbo (Bucharest) with GEC Alsthom, France, for $5.1 million. PECO (Prahova) with Buta Fas, Holland for $12 million.Competrol (Bucharest) with Butangas, Italy, for $3.1 million.Compa (Sibiu) with August Bilstein, Germany, for $10.8 million.UMT (Timisoara) and Linde, Germany, for $2.8 million. SC Meva (Turnu Severin with SAFI, Italy, for $2 million.Metaloplast (Brasov) with Autoliv, Sweden and Germany, for $2.1 million.Compa (Sibiu) with Krupp, Germany, for $12 million. Aerostar (Bacau) with Zron, Holland and Elbit Sistem, Israel, for $2.5 million.Oltchim (Ramnicu-Vilcea) with Petzetakis, Greece, for $3.1 million. ERS CUG (Cluj-Napoca) with AGA AB, Sweden for $2.7 million.Electroputere (Craiova) with Reinhold Noor Gmbh, Germany, $2.4 million
  • Interview with Olga Rece of the stockbroker firm Tranzatii Valori Mobiliare, July 17, 2000
  • Correspondence from the Director of the Communications Department, Authority for Privatisation and Management of State Ownership to James McCollum dated May 22, 2001
  • Interview with Viorica Beldean, Director General of Metroul, SA, Bucharest, July 3, 2000
  • Interview with Ion Firiza, Vice President, Compa, SA, Sibiu, June 29, 2000
  • Interview with Cristian Mitria, General Manager, Ipromet, SA, Bucharest, July 5, 2000
  • Vrabioru, Mircea. “Inca un Iperiu de Carton se Clatina, ”(Another Cardboard Empire is Falling Apart) Romania Libera (May 29, 2000): 5
  • Raducu, I.“Banca Liu Vacaroiu a Faliment FNI,”(Vacaroiu's Bank Caused the Bankruptcy of FNI) Romania Libera, (May 29, 2000): 1
  • Bacanu, Petre Mihai. “Fondul Valutar Gelsor: Ilegal,”(Gelsor Mutual Fund: Illegal) Romania Libera (May 30, 2000): 1
  • Bacanu, Petre Mihai. “ Firmele si Persoane Apropiate dlui S.O.V. si-au Rascumparat in Totalitate Unitalile de Fond de la FNI,” (Firms and Persons Close to Mr. S.O.V. [Sorin Ovidiu Vantu] have retrieved their Totoal Investment from the FNI Fund), Romania Libera (July 1, 2000): 1. The lists of names of investors and how much they invested plus how much they recouped were published in several issues of the newspaper, Ziua
  • “Without any Proof and Before the Court Decision,” Adavarul (July 3, 2000): 1
  • Anghelescu, Adina. “Criminalatatea Organizata Bulverseaza Romania,”(Organized Crime is Having a Very Bad Influence on Romania), Ziua (July 7, 2000): 5
  • Csiki, Camelia. “Filiera Duduianu,”(Duduianu Shuttle), Evenimental Zilei (July 14, 2000): 11
  • “Romanian Leader Won't Run Again,” Herald Tribune (Paris) (July 18, 2000): 7
  • Dinescu, Ana. “Emil Constantinescu: ‘Nu Mai Candidez,”(Emil Constantinescu: ‘I Am No More a Candidate), Ziarul Financiar (July 18, 2000): 1
  • Gherghe, Marius. “Representantii Eurocopter Negocaza cu FPS Privatizarea IAR Ghimbov,”(Representatives of Eurocopter Negotiated with the State Ownership Fund for IAR Ghimbov), Ziua (July 8, 2000): 2
  • David, Fred. Strategic Management: Concept and Cases, 7th ed. Prentice-Hall, Upper Saddle River, N.J., 1999: 320. David states, “In recent years, Russia privatized nearly 200,000 businesses that employed 70 percent of the nation's workforce. Privatizing simply meant giving the firm to its workers. Being untrained and unorganized, these workers most often, in turn, gave the firm to the top directors, who have largely become rich barons. Imagine if Lee Iacocca had thought about nothing all day but how to steal from Chrysler. This is the situation in 90 percent of Russian businesses.”

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