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Europe / Privatisation and Corporate Governance in the East

Anno XXXIII, n. 145, maggio-agosto 1998
Centro Einaudi


Testo disponibile solo in lingua inglese.
The introduction to the essay is inspired by the method of economic analysis. The subsequent sections go on to analyse the present state of relations between the European Union and the countries of central and eastern Europe as part of the progressive harmonisation of legal systems for the integration of the internal market. The central section of the study is dedicated to the question of corporate governance in central Europe against the background of the rebirth of commercial law and the entry onto the economic scene of new legal agents, investment funds and banks. The question of privatisations is analysed as central to the development of financial markets in the context of the transition towards a market economy. The concluding section compares the models of corporate governance which are emerging in the post-socialist area and formulates prescriptive recommendations that are consistent with the leitmotiv of the analysis: namely, that it is not so much the body of laws supplied by the European Union as the method proposed which seems unsuitable for legal harmonisation and political and economic integration.