Munich Personal RePEc Archive

The privatization of public banks: will it always turn out to be satisfactory?

Apak, Sudi and Atakisi, Ahmet and Ozkan, Levent and Ekizceleroglu, Caner (2006): The privatization of public banks: will it always turn out to be satisfactory? Published in: Academic Journal Menagement and Education , Vol. 1, No. 2 (16. September 2006): pp. 156-162.

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Abstract

The concept of privatization has been deepened due to the liberalization progress in the world economy since the beginning of 1980's. In order to slip out of the great depression period in 1929, the share of government activity in economy and government intervention has been increased and this variety of thoughts M>as made popular by several economists in United States. Governments share in the total of economy has been ascended and this became wide spread in the capitalist block after long phase of Keynesian policy implementations in these economies. On the other hand, the experienced facts of stagflation and collapse of world's monetary sys¬tem caused an enormous debate on Keynesian belief in economy and the neo-liberal rapprochements have began to deploy rapidly in the capitalist block by 1980s. As a result of the 1917 Revolution and in accordance of the new established socialist order in Russia, alien-ating the private ownership of production to the state has swiftly broadened throughout the country. However, the stale owned properties have commenced to transfer to private ownership by radical resolutions, after the collapsing of socialist regimes in the Eastern Block. Needless to say thai, the concept of privatization in transi-tion economies has came on the scene only after the year 1989. In this study our objective is to determine the global public bank privatization trends by focusing on to the privatization conception. As a final point, the public bgnks privatization process in transition economies will be questioned and analyzed.

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