Privatization Methods and Economic Growth
AbstractIn low-income countries privatization, if implemented appropriately, may play an important role in generating growth. Using data recently available from Central and Eastern Europe, we therefore investigate the impact of alternative methods of privatization on economic growth. Our analysis suggests that the use of conventional privatization methods to match owners with firms can be inefficient in economies with underdeveloped capital markets, particularly if wealth is poorly correlated with managerial and entrepreneurial ability. In these circumstances mass privatization,with firms being given away or sold at a nominal price, may be the appropriate policy choice.
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Bibliographic InfoPaper provided by Economics and Finance Section, School of Social Sciences, Brunel University in its series Public Policy Discussion Papers with number 03-24.
Length: 30 pages
Date of creation: Feb 2004
Date of revision:
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Postal: Brunel University, Uxbridge, Middlesex UB8 3PH, UK
Other versions of this item:
- NEP-ALL-2004-07-11 (All new papers)
- NEP-DEV-2004-07-11 (Development)
- NEP-ENT-2004-07-11 (Entrepreneurship)
- NEP-REG-2004-07-11 (Regulation)
- NEP-TRA-2004-07-11 (Transition Economics)
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- Irena Grosfeld & Iraj Hashi, 2005. "The emergence of large shareholders in mass privatized firms: Evidence from Poland and the Czech Republic," PSE Working Papers halshs-00590865, HAL.
- repec:hal:wpaper:halshs-00590865 is not listed on IDEAS
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