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Privatization in Transition Countries

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  • Oli Havrylyshyn
  • Donal McGettigan
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    Abstract

    This paper reviews a selection of studies on privatization experiences in transition countries. Empirical studies almost invariably show privatized enterprises outperform state enterprises. Moreover, the literature identifies de novo firms as being clearly the best performers, followed by outsider-dominated firms, while insider-dominated firms are the least efficient among those newly privatized. The importance of de novo firms in enlarging the private sector in transition economies is reviewed, along with the question of whether privatization efforts support or hinder de novo private sector development. Finally, the paper discusses the importance of providing a suitable market environment for successful private-sector development.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 99/6.

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    Length: 44
    Date of creation: 01 Jan 1999
    Date of revision:
    Handle: RePEc:imf:imfwpa:99/6

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    Cited by:
    1. Maciej Baltowski & Tomasz Mickiewicz, 2000. "Privatisation in Poland: Ten Years After," Post-Communist Economies, Taylor & Francis Journals, vol. 12(4), pages 425-443.
    2. Morris Bornstein, 2000. "Post-Privatization Enterprise Restructuring," William Davidson Institute Working Papers Series 327, William Davidson Institute at the University of Michigan.
    3. Li, Hongbin & Rozelle, Scott, 2001. "Insider Privatization With A Tail: The Buyout Price And Performance Of Privatized Firms In Rural China," Working Papers 11968, University of California, Davis, Department of Agricultural and Resource Economics.
    4. Li, Hongbin & Rozelle, Scott, 2004. "Insider privatization with a tail: the screening contract and performance of privatized firms in rural China," Journal of Development Economics, Elsevier, vol. 75(1), pages 1-26, October.
    5. John Marangos, 2002. "A post Keynesian critique of privatization policies in transition economies," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(5), pages 573-589.
    6. Mark J Flanagan, 2008. "Resolving a Large Contingent Fiscal Liability," IMF Working Papers 08/159, International Monetary Fund.
    7. Anibal Insfran Pelozo, Jose, 2001. "Privatization in Paraguay: some lessons," The Quarterly Review of Economics and Finance, Elsevier, vol. 41(5), pages 737-753.
    8. Wolfgang Gerstenberger & Joachim Jungfer & Heinz Schmalholz, 2002. "Standortbedingungen in Polen, Tschechien und Ungarn und die Position Sachsens im Standortwettbewerb : Gutachten im Auftrag der Wirtschaftsförderung Sachsen GmbH," ifo Dresden Studien, Ifo Institute for Economic Research at the University of Munich, number 33.
    9. Morris Bornstein, 2001. "Post-privatisation Enterprise Restructuring," Post-Communist Economies, Taylor & Francis Journals, vol. 13(2), pages 189-203.
    10. Freinkman, Lev, 2000. "Role Of The Diasporas In Transition Economies: Lessons From Armenia," MPRA Paper 10013, University Library of Munich, Germany.
    11. D'Souza, Juliet & Megginson, William & Nash, Robert, 2005. "Effect of institutional and firm-specific characteristics on post-privatization performance: Evidence from developed countries," Journal of Corporate Finance, Elsevier, vol. 11(5), pages 747-766, October.

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