Privatization Process in Kosovo
Abstract
Privatization is considered an initial step toward market economy, restructuring financial and economic sector that enables competition in the economy. Privatization is the most painful process in economy where beside legal establishment and political will, it includes also the aspect of fairness and honesty. Analysis of this process is based on the models and comparisons between Kosovo and countries of central and Eastern Europe, in order to give a clearer picture on the overall process of privatization in Kosovo
Methodology that is used to analyze this issue is based on empirical results and also qualitative interpretation of the models and also on studying particular asset privatization process. A widely discussed case of privatization in Kosovo is that of Post and Telecom of Kosovo (PTK). Since each company has its own value, I have focused my appraising analysis on the financial statements with a special observation on Cash Flow from Operation, as the most significant indicator on showing how company is using her physical and human recourses to generate money. I have based my research on using methodology of discounted cash flow from operation analysis, even though the company valuation was done using net cash flow from operation analysis. Cash Flow valuation then was discounted by the T-bonds interest rate.
This paper tries to bring a conclusion that privatization process in Kosovo have not brought the results excepted, firstly by setting an inappropriate price of assets and lastly by restructuring overall privatization sector and the overall industry. Kosovo, consequently, lost a big opportunity to create a competitive environment of financial industry: starting from the banking industry followed the pension trust which remained at their initial steps of development
Keywords
References
Audited Financial Statements of PTK, Publications-Annual Reports, 2007-2012, Available from: http://www.ptkonline.com/ptk/publications/ , [last accessed 03.01.2014]
Bonin, J., Hasan, I., Wachtel, P., (2008), “Banking in Transition Countries”, Oxford Handbook of Banking. Available from: http://people.stern.nyu.edu/pwachtel/images/Wachtel_BankingTransitionCountries_Sept2013.pdf , [last accessed 22.11.2013]
Brajshori, M., (2012), “Kosovo privatization process is under scrutiny”, Southeast European Times in Pristina. Available from: http://www.setimes.com/cocoon/setimes/xhtml/en_GB/features/setimes/features/2012/03/21/feature-04, [last accessed 02.02.2013]
Dem, A., Mihailovici, G., Gao, H. “Inflation and hyperinflation in the 20th century – caused and patterns”, Columbia University, School of International and Public Affairs, http://www.itulip.com/Select/hyperinflation.pdf, [last accessed 20.02.2014]
Lavigne, M., (1999), “The economics of transition from socialist economy to market economy”, MacMillan Press LTD, 2ND edition.
Riinvest-Institute for Development Research (2002) Socially Owned Enterprises and Their Privatization, Research Report, June, 20, 2002. Available from: http://riinvestinstitute.org/publikimet/pdf/10.pd, [last accessed13 .12.2013]
Sachs, J., Lipton, D., Summers, L., (1990), “Privatization in Eastern Europe: Case of Poland”, Harvard University, World Institute for Development Economic Research. Available from: http://earthinstitute.columbia.edu/sitefiles/file/about/director/pubs/brookings0990.pdf [last accessed 30.11.2013]
Sirotkovic J., (1961), “Problemi Privrednog Planiranja u Jugoslaviji”, Zagreb.
Vanek, J. Economic Planning in Yugoslavia, Cornell University. Available from: http://www.nber.org/chapters/c1428.pdf, [last accessed 30.11.2013].
DOI: 10.21113/iir.v4i1.58
Article Metrics
Metrics powered by PLOS ALM
Refbacks
- There are currently no refbacks.
Copyright (c) 2016 Ing. Florin Aliu

This work is licensed under a Creative Commons Attribution 4.0 International License.
Comments on this article
by Pedro Toledo (2019-09-30)
by Tomas Banvard (2019-11-01)
by Mariana Loane (2020-01-09)
by Penny Applegate (2020-01-21)
by Vilma Vesely (2020-01-22)
by Therese Peltier (2020-01-22)
by Mariano Mahmood (2020-01-23)
by Terri Willett (2020-01-25)
by Chasity Fuentes (2020-01-28)
by Magda Simas (2020-01-28)
by Emilio Benavides (2020-01-28)
by Ramiro Burrow (2020-01-29)
by Danielle Magnus (2020-02-01)
by Dalton Simcox (2020-02-05)
by Alexander Zwar (2020-02-05)
by Tawanna Smeaton (2020-02-05)
by Paul Knouse (2020-02-06)
by Bonnie Hermanson (2020-02-06)
by Lloyd Thomsen (2020-02-08)
by Sharyl Catani (2020-02-09)
by Marlys Richard (2020-02-10)
by Jacinto Ruby (2020-02-13)
by Rene Oxenham (2020-02-15)
by Deneen Hume (2020-02-18)
by Alfred Olson (2020-02-19)
by Cinda Escamilla (2020-02-19)
by Vernell Carone (2020-02-21)
by Tiffani Judkins (2020-02-21)
by Rochell McIlvain (2020-02-21)
by Karri Park (2020-02-22)
by Justine Mendes (2020-02-22)
by Rose Scullin (2020-02-23)
by Ouida Wickman (2020-02-26)
by Leila Baldwinson (2020-02-26)
by Nora Stallworth (2020-02-29)
by Garry Underhill (2020-03-01)
by Karla Eastham (2020-03-02)
by Shanon Sallee (2020-03-03)
by Micah McCutcheon (2020-03-03)
by Ilana Affleck (2020-03-04)
by Marjorie Crowell (2020-03-04)
by Stanton Denham (2020-03-04)
by Harrison Eisenhauer (2020-03-06)
by Magnolia Dehart (2020-03-09)
by Marita Nava (2020-03-11)
by Tommie Vallecillo (2020-03-11)
by Noelia Chiaramonte (2020-03-11)
by Jonelle McGuigan (2020-03-11)
by Bonny Chung Gon (2020-03-12)
by Jenni Avery (2020-03-13)
by Kelvin Devries (2020-03-15)
by Roosevelt Canter (2020-03-15)
by Rosaura Tunstall (2020-03-17)
by Rene Murdoch (2020-03-17)
by Marisol Mccord (2020-03-19)
by Berniece Wainewright (2020-03-19)
by Georgina Chavis (2020-03-21)
by Ward Elmer (2020-03-22)
by Nell Maxted (2020-03-22)
by Charlene Windham (2020-03-24)
by Latisha Sanor (2020-03-25)
by Aretha Filson (2020-03-25)
by Jeffery Mull (2020-03-26)
by Kandis Clutterbuck (2020-03-26)
by Ethan Burn (2020-03-27)
by Xiomara Grimwade (2020-03-28)
by Neal Morrill (2020-03-29)
by Jeana North (2020-03-30)
by Jayme Zambrano (2020-03-30)
by Eulah Messina (2020-03-31)
by Douglas Giblin (2020-03-31)
by Ava Coldham (2020-03-31)
by Edwin Angliss (2020-03-31)
by Steffen Le Souef (2020-04-01)
by Lida Pederson (2020-04-01)
by Jodie Platt (2020-04-01)
by Phoebe McCree (2020-04-02)
by Meri Angwin (2020-04-05)
by Garnet Liversidge (2020-04-06)
by Una Farncomb (2020-04-06)
by Cassie Soileau (2020-04-07)
by Torsten Bunn (2020-04-07)
by Marita Coull (2020-04-07)
by Porter Hines (2020-04-08)
by Huey Gilbreath (2020-04-09)
by Kellee Holiday (2020-04-09)
by Luciana Whitehurst (2020-04-11)
by Rowena Jansen (2020-04-11)
by Juliet Borrego (2020-04-12)
by Lou Howden (2020-04-14)
by Thalia Thigpen (2020-04-14)
by Delbert Eckert (2020-04-15)
by Marcel Mueller (2020-04-17)
by Dexter Ali (2020-04-17)
by Bridget Rexford (2020-04-18)
by Miquel Helms (2020-04-20)
by Matilda Skeens (2020-04-21)
by Anglea Worthington (2020-04-21)
by Nam Crowley (2020-04-21)
by Grady Victor (2020-04-22)
by Valerie McGahan (2020-04-22)
by Amee Pavy (2020-04-22)
by Terence Forlonge (2020-04-22)
by Niamh Reiner (2020-04-23)
by Krystle Tiemann (2020-04-23)
by Hayden Furnell (2020-04-23)
by Romaine Marlow (2020-04-23)
by Verona Le Hunte (2020-04-24)
by Stacia Hawken (2020-04-24)
by Mariana Duffy (2020-04-24)
by Marcia Macghey (2020-04-24)
by Taj Christopher (2020-04-24)
by Chanel Elphinstone (2020-04-24)
by Violette Alarcon (2020-04-27)
by Joe Oldaker (2020-04-28)
by Willard England (2020-04-28)
by Kristy Chapman (2020-04-28)
by Lillie Statton (2020-04-28)
by Hollie Withrow (2020-04-29)
by Dolores Sodersten (2020-04-29)
by Anibal Sells (2020-04-29)
by Hugo Bryan (2020-05-03)
by Florian Ernst (2020-05-03)
by Arianne Argueta (2020-05-03)
by Elena Lefroy (2020-05-04)
by Bell Starks (2020-05-04)
by Sharyl O'Conor (2020-05-04)
by Merri MacGregor (2020-05-04)
by Freeman Christenson (2020-05-05)
by Darwin Laney (2020-05-05)
by Blake Bladen (2020-05-07)
by Bob Joyce (2020-05-07)
by Etsuko Threatt (2020-05-07)
by Alphonso Bavister (2020-05-07)
by Star Luker (2020-05-07)
by Audrey Dugan (2020-05-07)
by Ermelinda Winters (2020-05-07)
by Alice Sealey (2020-05-07)
by Tonja Clay (2020-05-08)
by Zenaida Cochrane (2020-05-09)
by Dewey Britt (2020-05-10)
by Freya Clunie (2020-05-11)
by Retha Shinn (2020-05-11)
by Eloise Woolery (2020-05-11)
by Angelita Stevenson (2020-05-11)
by Steven Smathers (2020-05-11)
by Minda Parent (2020-05-11)
by Mavis Ahmed (2020-05-12)
by Garland Muskett (2020-05-13)
by Lien Gant (2020-05-13)
by Lien Gant (2020-05-13)
by Lien Gant (2020-05-13)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Anglea Goins (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Esperanza Adair (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Norberto Paulson (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-14)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Donna Parrott (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Lien Gant (2020-05-15)
by Zulma Chapa (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-16)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lea Stines (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Cierra Osterhagen (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Donald Kroeger (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
by Lien Gant (2020-05-17)
"Reda Shang" (2020-05-17)
"Don Ruiz" (2020-05-17)
"Arleen Rader" (2020-05-18)
"Renato Godley" (2020-05-18)
"Fausto Colquhoun" (2020-05-18)
"Tristan Stinson" (2020-05-18)
"Roberta Gouger" (2020-05-20)
"Lila Haynes" (2020-05-20)
"Dianna Lerma" (2020-05-20)
"Darren Egerton" (2020-05-20)
"Staci Schafer" (2020-05-20)
"Mollie Finnegan" (2020-05-20)
"Juanita Berrios" (2020-05-21)
"Kerry Hudd" (2020-05-21)
"Monika Tarver" (2020-05-21)
"Regan Marlay" (2020-05-21)
"Bradley Malizia" (2020-05-22)
"Frankie Wehrle" (2020-05-22)
"Brian Jervois" (2020-05-22)
"Aline Kozlowski" (2020-05-22)
"Brianna Gravatt" (2020-05-22)
"Rosalind Clancy" (2020-05-22)
"Corrine Catani" (2020-05-23)
"Zac Pham" (2020-05-23)
"Byron Garner" (2020-05-24)
"Bernice Dement" (2020-05-24)
"Tawnya Ewald" (2020-05-24)
"Tracy Huddleston" (2020-05-24)
"Giselle Blaine" (2020-05-25)
"Quyen Hollis" (2020-05-25)
"Gisele Fry" (2020-05-26)
"Caleb Ewald" (2020-05-26)
"King Huon De Kermadec" (2020-05-26)
"Emile Persinger" (2020-05-26)
"Spencer Hylton" (2020-05-26)
"Marla Haralson" (2020-05-27)
"Terra Kirton" (2020-05-27)
"Shayne Black" (2020-05-27)
"Ray Higgins" (2020-05-28)
"Renate Swafford" (2020-05-29)
"Stanley Knudsen" (2020-05-29)
"Isidro Binney" (2020-05-29)
"Freya Garlock" (2020-05-29)
"Dani Steinmetz" (2020-06-01)
"Rod Daulton" (2020-06-01)
"Crystle Allcot" (2020-06-01)
"Allie Mccain" (2020-06-01)
"Cody Carswell" (2020-06-01)
"Denny Richer" (2020-06-01)
"Joseph Aldridge" (2020-06-01)
"Dick Gass" (2020-06-02)
"Kristen Pearl" (2020-06-02)
"Trina Connelly" (2020-06-02)
"Jolie Canchola" (2020-06-02)
"Lucinda Mullen" (2020-06-02)
"Leonora Nies" (2020-06-02)
"Elise Resch" (2020-06-03)
"Mora Weis" (2020-06-03)
"Verona Capehart" (2020-06-04)
"Anitra Savage" (2020-06-04)
"Jon Devaney" (2020-06-05)
"Kris Macrossan" (2020-06-05)
"Trent Tribble" (2020-06-06)
"Wally Baile" (2020-06-06)
"Maxwell Soutter" (2020-06-07)
"Milla Delany" (2020-06-07)
"Mickey Tolliver" (2020-06-07)
"Isidro Lennox" (2020-06-07)
"Wayne Walstab" (2020-06-08)
"Millie Fitzwater" (2020-06-08)
"Yanira Tebbutt" (2020-06-08)
"Burton Arndt" (2020-06-08)
"Lasonya Johnston" (2020-06-08)
"Leonida Broger" (2020-06-08)
"Leila Deboer" (2020-06-08)
"Rob Tharp" (2020-06-09)
"Myrna Ragsdale" (2020-06-09)
"Lovie Hendon" (2020-06-09)
"Ralph Echols" (2020-06-09)
"Kory Mattox" (2020-06-10)
"Kristy Philipp" (2020-06-10)
"Malinda Krueger" (2020-06-10)
"Harlan Outtrim" (2020-06-10)
"Belle Mayers" (2020-06-10)
"Mariano Whittemore" (2020-06-10)
"Evan Rosa" (2020-06-10)
"Danae Birnie" (2020-06-10)
"Bobbie Mondalmi" (2020-06-10)
"Brooks Glenelg" (2020-06-10)
"Felipe Mendenhall" (2020-06-11)
"Marcus Llanas" (2020-06-11)
"Shona Fennescey" (2020-06-11)
"Noble Chester" (2020-06-11)
"Anglea Wertz" (2020-06-12)
"Teri Pride" (2020-06-12)
"Raleigh Wight" (2020-06-13)
"Timothy Therry" (2020-06-13)
"Bert Fetty" (2020-06-13)
"Brooks Stjohn" (2020-06-16)
"Alysa Payne" (2020-06-16)
"Chun Farleigh" (2020-06-16)
"Michele Nicholson" (2020-06-16)
"Michele Nicholson" (2020-06-16)
"Michele Nicholson" (2020-06-16)
"Michele Nicholson" (2020-06-16)
"Michele Nicholson" (2020-06-16)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Rosalina Albrecht" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-17)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Michele Nicholson" (2020-06-18)
"Caleb Kintore" (2020-06-18)
"Kaley Strunk" (2020-06-19)
"Vonnie Blackham" (2020-06-19)
"فرناز کدیور" (2020-06-20)
"Lenore Watson" (2020-06-20)
"Ward Brandt" (2020-06-23)
"Robert Wetter" (2020-06-23)