As the dust begins to settle almost three years after the collapse of the Iron Curtain, the Czech and Slovak Federal Republic (often referred to as the C.S.F.R.) has emerged with what is arguably the boldest policy on privatisation among the former Eastern Bloc countries.
In the past, when a business was underperforming, its management selected from a set of traditional paths for improvement. They looked at specific functions or identified problem departments or concentrated on broken business units.
Jeffrey Sachs is currently leading a team of economic advisers to Russian President Boris Yeltsin. Frank Yans is a vice president of Arthur D. Little, Inc. This conversation took place on April 30 at Professor Sachs' home in Newton, Massachusetts.
Eastern European countries have strong industrial traditions, much like those of the West, but their economies have been severely distorted by the mismanagement of the now-discredited communist system. Therefore, investment opportunities in the region are often clouded by significant issues.