Partial privatisation: The caveats and expriences

Partial privatisation, in which a more or less large number of residul shareholdings remain in the hands of the state, is a widespread phenomenon in the countries of Central and Eastern Europe. The following paper compares experiences in Poland with those of the UK, where there has been extensive privatistion of public utilities in the last 20 years, and concludes with some policy recommendations for the transforming countries. The original version of this paper was commissioned by the OECD and presented at its workshop on Management and Sale of Residual Shareholdings, Berlin, Germany, May 1996.