Efektywność procesów prywatyzacyjnych dużych przedsiębiorstw przemysłowych w latach 1990-2004

Abstract

Changes in the socio-economic system initiated at the beginning of the 1990s affect both the micro- and macroeconomic sphere of economy. Solutions adopted in the stabilisation package, and related to the monetary policy in particular, exerted an enormous influence on enterprises. Price liberation, an introduction of internal convertibility with a currency devaluation, and above all making interest rates real resulted in a deterioration of the economic situation of businesses and forced them to undertake reform actions. One of the most important changes was privatisation of large manufacturing enterprises. The aim of the paper is to assess the economic situation of large public and private enterprises between 1990 and 2004. This analysis should make it possible to respond to the question whether it is private or public enterprises which can better adapt to market mechanisms. The paper presents comparable analyses of the values of the basic profitability, liquidity and debt ratios.