Aspects of Ownership Change from State to Private, in Transitional Albanian Economy (1991 – 1996)

Abstract

This paper aims to describe and examine the earliest stages of ownership change in Albanian economy, at the very beginning of the transition from a centralized state owned toward a free market system. Authors discuss the most important legal acts that paved the way for this process and their implementation into practice. Initially, the agricultural land privatization was introduced, followed by trade facilities and dwelling houses. Next stage included the privatization of small and medium enterprises and mass privatization, partially carried out through auction and vouchers. The paper identifies some achievements and failures of this process, seen from a critical perspective.