This paper is about real sector privatization and restructuring in CIS countries. It points out at differences in these processes between CIS and CEB countries. The authors study the starting conditions, the main goals and tasks of reforms in these sphere. They analyze what methods were used and what sequence of transformation was observed. In addition, the interrelation with other reforms is also in focus of the research. Analyzing the outcome of privatization, the authors pay special attention to endogenous and exogenous factors that determine its results and effectiveness. Finally, the authors conclude that the key factors for successful privatization are a new ownership structure and legal and institutional climate for business. They recommend tools and mechanisms of privatization completion and make suggestions on how to reform other sectors.

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