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Chapter 8 Methods and Institutions – How do They Matter?: Lessons from Privatization and Restructuring in the Post-Socialist Transition

In: Privatization in Transition Economies: The Ongoing Story

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  • Itzhak Goldberg
  • John Nellis

Abstract

In theory, the method employed to transfer ownership from public to private hands is a secondary concern. But when the legal-institutional environment is weak, the method of sale matters greatly. The experiences of the transition economies have taught us that different forms of sales methods produce very different types of owners, who vary greatly in their commitment to, and ability to carry out restructuring (meaning the changes required to allow the firm to survive in a competitive market setting). The method of privatization is thus an important factor in determining1an efficient allocation of ownership rights.

Suggested Citation

  • Itzhak Goldberg & John Nellis, 2007. "Chapter 8 Methods and Institutions – How do They Matter?: Lessons from Privatization and Restructuring in the Post-Socialist Transition," Contemporary Studies in Economic and Financial Analysis, in: Privatization in Transition Economies: The Ongoing Story, pages 345-370, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-3759(07)00008-3
    DOI: 10.1016/S1569-3759(07)00008-3
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    Cited by:

    1. Aktoty Aitzhanova & Shigeo Katsu & Johannes F. Linn & Vladislav Yezhov (ed.), 2014. "Kazakhstan 2050: Toward a Modern Society for All," Books, Emerging Markets Forum, edition 1, number kazakh2050, November.

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