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Time to Rethink Privatization in Transition Economies?

Author

Listed:
  • Nellis, J.

Abstract

Worlwide, evidence is increasing that privatization improves firm performance. But in some institutionally-weak transition economies, ownership change has so far not delivered on its promise. Why? Mass and rapid privatization shcmes turned over mediocre assets to people lacking the incentives, skills and resources to manage them well. What is to be done? Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strenghten the managerial and administrative capacities of the state.

Suggested Citation

  • Nellis, J., 1999. "Time to Rethink Privatization in Transition Economies?," Papers 38, World Bank - International Finance Corporation.
    • Handle: RePEc:fth:wobafi:38
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    More about this item

    Keywords

    PRIVATIZATION ; OWNERSHIP ; ENTERPRISES;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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