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Social Costs of Mass Privatization

Listed author(s):
  • David Stuckler
  • Lawrence P. King

    ()

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    According to leading economic theorists, creating capitalism out of communism requires rapid privatization. In this article we empirically test the welfare implications of privatization policies in Post-Soviet countries by using cross-national panel mortality data as an indicator of social costs. We find that rapid privatization ??? whether measured by a novel measure of mass privatization program implementation or Enterprise Bank for Reconstruction and Development privatization outcome scores ??? is a critical determinant of life expectancy losses, and that when privatization policies are reversed, life expectancy improves. Using selection models, we show that endogeneity understates the social costs of rapid privatization.

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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/64393/1/wp890.pdf
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    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp890.

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    Length: pages
    Date of creation: 01 Sep 2007
    Handle: RePEc:wdi:papers:2007-890
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