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Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later

In: Transition and Beyond

Author

Listed:
  • Sergio Godoy
  • Joseph E. Stiglitz

Abstract

The end of the communist era brought much optimism over the growth possibilities of the economies that are now referred to as the transition countries. An inefficient system, rife with distortions and without incentives, was to be replaced by the market. Privatization, liberalization, and decentralization would bring unprecedented prosperity. To be sure, there were some worries about a short transition recession. But the only real issue was how best to secure the transition.

Suggested Citation

  • Sergio Godoy & Joseph E. Stiglitz, 2007. "Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later," Studies in Economic Transition, in: Saul Estrin & Grzegorz W. Kolodko & Milica Uvalic (ed.), Transition and Beyond, chapter 4, pages 89-117, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-0-230-59032-8_5
    DOI: 10.1057/9780230590328_5
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    Keywords

    Corporate Governance; Ordinary Little Square; Transition Country; Institutional Variable; Gross National Product;
    All these keywords.

    JEL classification:

    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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