Privatization of state-owned assets during the transition period in post-Soviet countries: a case study of Lithuania and Georgia

ENPrivatization was a central theme among politicians and economists in post-Soviet countries during the transition period from a centrally planned to a free-market economy. Privatization had an enormous impact on economic, social and political situations, including on different interested economic actors, as well as on the citizens who were actively involved in the process. The aim of this research paper is to shed light on the reasons the privatization process of state-owned assets was more successful in Lithuania than in Georgia through analysing the initial privatization process from 1991 to 1997. Economic slumps, civil unrest, the level of corruption, hyperinflation, low levels of enthusiasm, and the collapse of institutional capacity may be considered the main reasons for the differing results of privatization.