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Privatization Is Transition--Or Is It?

Author

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  • Josef C. Brada

Abstract

Various means of creating a private sector have been used in transition economies, including restitution, privatization of state firms through sales or voucher schemes, and start-ups of new private firms. The privatization of state-owned firms raises questions regarding the viability of future corporate governance but, in combination with economic liberalization, it has induced state-owned firms to react to their new environment. Differences in the extent of privatization among countries reflect largely differences in the privatization of state-owned firms. Qualitative differences reflect differences in who the new owners of these firms are.

Suggested Citation

  • Josef C. Brada, 1996. "Privatization Is Transition--Or Is It?," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 67-86, Spring.
  • Handle: RePEc:aea:jecper:v:10:y:1996:i:2:p:67-86
    Note: DOI: 10.1257/jep.10.2.67
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.10.2.67
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    References listed on IDEAS

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    1. John Kay & Aubrey Silberston, 1995. "Corporate Governance," National Institute Economic Review, National Institute of Economic and Social Research, vol. 153(1), pages 84-107, August.
    2. Dittus Peter, 1994. "Bank Reform and Behavior in Central Europe," Journal of Comparative Economics, Elsevier, vol. 19(3), pages 335-361, December.
    3. Jan Svejnar & Miroslav Singer, 1994. "Using vouchers to privatize an economy: the Czech and Slovak case," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 2(1), pages 43-69, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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