Privatization & Market Transformation The purpose of this research is t

Pereira, et al., examine the political and economic reforms in nascent democracies in Eastern Europe and Latin America, focusing on the difficulties associated with building political and economic institutions in places that have not necessarily experienced them in this century. They look at major obstacles during the crucial political/transitional period that can impede or even reverse the process, with Pereira taking on Latin America, Maravall taking Southern Europe, and Przeworski taking Eastern European perspective (especially Poland). Pereira considers economic reforms and political reforms alike to be cyclical in Latin America, and on the whole he believes that the fact of such cycles may not be sufficiently recognized by either the newer state entities or the industrial and worker interests in such states to allow them to adjust to conditions that will inevitably fl

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oach to government, and least in Greece, which had the most populist approach. Significantly, democracy and government transition were maintained in each country, and by 1990 each country had achieved a relative balance between social-welfare spending and improved economic performance, with the governments acting economically more as mediator than as managing director, and socially as guarantor of social equality. By focusing on the case of Poland Przeworski nevertheless shows that throughout Eastern Europe, the process of building institutions, encouraging (or allowing) political pluralism, diminishing ethnic conflict, and real economic transformation is likely to take years to resolve. The initial post-socialist experience in Poland was radical reform (i.e., wage controls and government-sponsored curtailment of consumer goods) to whip inflation, so Poland could qualify for IMF funding. Inflation went down, but so did employment, a potential problem for democratic reforms (i.e., social unrest) in future. Walesa's election changed reform emphasis away from controls on mass-market access to inflated zlotys to "privatization," which was to be funded by individual and institutional purchase of shares in insurance companies, banks,
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Approximate Word count = 1723
Approximate Pages = 7 (250 words per page)

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