On the Speed and Sequencing of Privatization and Restructuring
AbstractThis paper examines aspects of speed and sequencing of restructuring and privatization in economies in transition. It is argued that because of political constraints, restructuring is more likely to be gradual. Because of the political constraints on restructuring, a very fast and non-differentiated approach to privatization may lead to renationalization and general delays in restructuring. A more gradual policy of privatization may allow for the screening of good from bad firms, allow the emergence of a sound financial sector and give credibility to a policy of gradual restructuring and hardening of budget constraints in the state sector.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 942.
Date of creation: Apr 1994
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Other versions of this item:
- Roland, Gerard, 1994. "On the Speed and Sequencing of Privatisation and Restructuring," Economic Journal, Royal Economic Society, vol. 104(426), pages 1158-68, September.
- H89 - Public Economics - - Miscellaneous Issues - - - Other
- P50 - Economic Systems - - Comparative Economic Systems - - - General
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