COMPETITIVE STRATEGIES FOR NEWLY DEMOCRATIZED COUNTRIES Available to Purchase

To become competitive with the industrialized world, a country may follow the following strategy: (1) stabilization of the exchange rate and the economy (extension of the state control of industries for a short period may be the next best alternative to a functioning free economy). A private market could then be phased in. (2) The privatization should be started from bottom up, e.g., start with selling small parts of various industries to develop a cadre of entrepreneurs and then sell bigger units or the whole firm. (3) Agencies should be developed to help/direct the transfer of technology from abroad.