Does Sequencing of Privatization Matter in Reforming Planned Economies?
AbstractAlthough key to the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once. This paper analyzes the allocative efficiency implications of alternate sequences of privatization in a reforming planned economy with two sectors--an input-producing upstream sector and a final goods-producing downstream sector. The model focuses on the link, through an intermediate inputs market, between the two sectors. The impacts of exogenous shocks are highlighted to show how the inflexibility of public firms in responding to shocks constrains the production response of private firms operating in perfectly and imperfectly competitive markets.
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Bibliographic InfoArticle provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.
Volume (Year): 39 (1992)
Issue (Month): 4 (December)
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Find related papers by JEL classification:
- P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
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- Singh, Nirvikar, 2010. "The Dynamics and Status of India’s Economic Reforms," MPRA Paper 24479, University Library of Munich, Germany.
- De Fraja, Gianni & Roberts, Barbara M, 2007. "Privatisation in Poland: What Was the Government Trying to Achieve?," CEPR Discussion Papers 6114, C.E.P.R. Discussion Papers.
- S. Nuri Erbas, 2002. "Primer on Reforms in a Second-Best Ambiguous Environment: A Case for Gradualism," IMF Working Papers 02/50, International Monetary Fund.
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