Abstract
In the late 1980s, mostly with the tumultuous events of the winter of 1989, the world has witnessed a tremendous ideological change with the collapse of communism, which led the Former Communists Countries (FCC) to a long period of transition. Privatization has always been considered as being a major part of this transition process to a market economy, which is logical: it seems impossible to imagine any market economy with state-owned property accounted for about 85-90 per cent of the national assets, as it was the case in most of the FCC . However, while many Western and Eastern economists (O. Blanchard, M. Friedman, D. Lipton, J. Sachs, V. Klaus, D. Trisk) had estimated that the privatization of these economies would be rapidly achieved (less than five years according to many of them), this challenge has appeared to be far greater and far longer than they had thought. But the aim of this paper is not to study the factors which led to the underestimation of the length of this process. In fact, we are going to study the different options available for the privatization of state property and as well as the advantages and drawbacks of the various schemes.
