The companies were turned into self-managed cooperatives.

The former GDR preferred to sell companies to preselected owners from West Germany. The companies were however sold at very low or in fact negative prices.

GDR was the first country to use a voucher privatization method. Unlike in other countries, the method led to very positive results (improved performance of the former SOEs).

GDR used direct sales based on auctions for its large-scale privatization – anybody was allowed to participate, value of the final bid was the only factor which mattered. The method was a success because of high revenues from privatization.

A more typical type of relationship was based on Party members (even senior ones) who became entrepreneurs rather than the other way round.

Interestingly enough, the data suggest almost all new members entering the Party after 2002 had a private business.

Party members who started private business were always required to leave the Party immediately, therefore they preferred to have a business activity registered under the name of other family members.

Party members who became entrepreneurs after the 2002 policy shift tended to be more senior than those who had started their business before the constitutional change

It is a commonly used name for the system which used to be implemented in former Yugoslavia. The state capitalism system is based on the so-called “workers’ councils”.

State capitalism was the system used during the colonial times when the advanced Western economies controlled Asian and African nations.

It is another name for market economies with very well-developed welfare states, such as Sweden.

It is a system which combines markets, direct or indirect state control over large companies, and a significant degree of state interventionism; it has been evolving e.g. in Russia and China.

Strongly recommended (required) that governments be very active in gradual restructuring of companies before privatization.

Was intended for Latin American countries.

Was never a true dictate to transition economies, but they embraced it as a logical and topical inspiration. 

Recommended only privatization, trade liberalization and deregulation, no other measures or considerations for the development issues of the countries were discussed.