Keywords: business development, economic transition, private sector, Kyrgyz Republic, privatisation, economic development, democracy, corporate governance, corruption, stabilisation, structural reforms, Kyrgyzstan
The experience of privatisation in the Kyrgyz Republic
This paper seeks to demonstrate that privatisation, if well implemented, will have a positive impact on economic development and democracy. Privatisation is presented as a process of transferring assets from the public sector to private sector. The world privatisation experience has shown that successful implementation of privatisation creates an environment for stabilisation and structural reforms. Without attention to corporate governance and increased corruption, privatised enterprises could miss opportunities, expose their reputations to greater risks, and find themselves at a competitive disadvantage. Privatisation, if implemented effectively and in a well-organised manner, evokes trust towards the government among potential capital investors.