Methods of privatization and economic growth in transition economies
AbstractWe examine how different methods of privatization might have affected growth in transition economies. Using several econometric specifications, including fixed effects and GMM, we estimate a cross-country panel growth model for 1990-2003. We find only voucher privatization to have been significantly associated with faster growth. Moreover, neither private sector development "per se" nor capital market development exercised a significant influence. We speculate that voucher privatization may have been effective because of the speed with which links between firms and the state were severed. Copyright (c) 2007 The Authors Journal compilation (c) 2007 The European Bank for Reconstruction and Development .
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Bibliographic InfoArticle provided by The European Bank for Reconstruction and Development in its journal Economics of Transition.
Volume (Year): 15 (2007)
Issue (Month): (October)
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