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Privatization Methods and Economic Growth

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  • John Bennett

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  • Saul Estrin
  • James Maw
  • Giovanni Urga

Abstract

In low-income countries privatization, if implemented appropriately, may play an important role in generating growth. Using data recently available from Central and Eastern Europe, we therefore investigate the impact of alternative methods of privatization on economic growth. Our analysis suggests that the use of conventional privatization methods to match owners with firms can be inefficient in economies with underdeveloped capital markets, particularly if wealth is poorly correlated with managerial and entrepreneurial ability. In these circumstances mass privatization,with firms being given away or sold at a nominal price, may be the appropriate policy choice.

Suggested Citation

  • John Bennett & Saul Estrin & James Maw & Giovanni Urga, 2004. "Privatization Methods and Economic Growth," Public Policy Discussion Papers 03-24, Economics and Finance Section, School of Social Sciences, Brunel University.
  • Handle: RePEc:bru:bruppp:03-24
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    Cited by:

    1. Faggio, Giulia, 2007. "Job destruction, job creation and unemployment in transition countries: what can we learn?," LSE Research Online Documents on Economics 19716, London School of Economics and Political Science, LSE Library.
    2. Kowalski, Tadeusz, 2009. "Comparative analysis of economic transformation in Poland and selected central European countries," MPRA Paper 16610, University Library of Munich, Germany, revised 2011.
    3. Fatma Dogruel & Suut Dogruel, 2011. "Privatization and regional distribution of manufacturing in Turkey," Working Papers 2011/4, Turkish Economic Association.
    4. Irena Grosfeld & Iraj Hashi, 2005. "The emergence of large shareholders in mass privatized firms: Evidence from Poland and the Czech Republic," Working Papers halshs-00590865, HAL.

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