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Transitions

Transitions magazine

Tag: Komercijalna Banka

Posted inRegions, Southeastern Europe

MACEDONIA: Privatizing Socially Owned Capital

by Transitions 29 Nov 1996

In Tito’s Yugoslavia, enterprises were considered to be socially owned rather than owned by the state. In practice, however, that meant no one owned the capital. The murky ownership status, combined with a lack of adequate legislation, has enabled managers to manipulate the privatization process in Macedonia to their own advantage

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