ROMANIAN PRIVATIZATION - ASSESSMENT OF THE FIRST 5 YEARS

In spite of its extreme initial socio-economic handicaps, post-communi st Romania has undertaken significant reforms, While still lagging beh ind, Romanian privatization could exhibit a rapid recovery, as the amb itious mass privatization program started as early as 1992 was recentl y relaunched, However, the program should be further refined if the fo undations for a sustained recovery and transformation are to be laid. This article suggests some aspects of the Romanian privatization that need to be reconsidered.