The transformation of state-owned enterprises into privately owned ones is commonly referred to as 'privatization'. As important as this process, though sometimes not given the attention it deserves and requires, is the establishment and expansion of new private firms.
This book analyzes new entrepreneurial firms that emerge and occasionally flourish after a period of state communism has come to an end. The authors rightly focus on the aftermath of the end of communism by looking firstly at the inevitable output decline, followed by an overview of new entrepreneurial firms. Specific East...