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Lessons from Eastern Europe's Voucher Privatization


  • David Ellerman


Several years have passed since the failure of shock therapy to create a vibrant market economy in Russia. Some of the architects of the original plans have admitted that their strategies were naive, incomplete, or excessively ambitious. Others still insist there were no viable alternatives. In this thorough piece, a World Bank economist assesses why voucher privatization in particular was such a popular reformist tool and why it was doomed from the beginning.

Suggested Citation

  • David Ellerman, 2001. "Lessons from Eastern Europe's Voucher Privatization," Challenge, Taylor & Francis Journals, vol. 44(4), pages 14-37.
  • Handle: RePEc:mes:challe:v:44:y:2001:i:4:p:14-37
    DOI: 10.1080/05775132.2001.11034107

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    Cited by:

    1. Lawrence King & Patrick Hamm, 2005. "Privatization and State Capacity in Postcommunist Society," William Davidson Institute Working Papers Series wp806, William Davidson Institute at the University of Michigan.

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