IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwpdc/0509017.html
   My bibliography  Save this paper

Market With Vouchers And Investment Funds

Author

Listed:
  • Oldrich Kyn

    (Boston University)

Abstract

The Fifth CERGE Lecture on Practical Aspects of Privatization held at Charles University in Prague on February 6 1992 It is about the process of voucher privatization of state owned enterprises after the fall of communism in Czechoslovakia. It starts with brief history of voucher privatization and discusses views of its critics. It is argued, that one of the main faults of the privatization in Czechoslovakia was outlawing of the market with voucher books. Because of that the true market value of vouchers was unknown. Second part brings hypothetical estimation of that market value. Further it evaluates how serious is the danger of the financial collapse after the end of voucher privatization that was suggested by some economists. Part three is about voucher privatization and inflation. Critics argue that the property distributed by vouchers would turn into 'hot money' that will be used for the purchase of consumer goods and thus will trigger hyperinflation? Part four is about the experience with investment funds and their regulation in the USA. Finally part five brings Conclusions. regulate privatization funds?

Suggested Citation

  • Oldrich Kyn, 2005. "Market With Vouchers And Investment Funds," Development and Comp Systems 0509017, EconWPA.
  • Handle: RePEc:wpa:wuwpdc:0509017 Note: Type of Document - doc; pages: 32
    as

    Download full text from publisher

    File URL: http://econwpa.repec.org/eps/dev/papers/0509/0509017.doc
    Download Restriction: no

    References listed on IDEAS

    as
    1. Gene M. Grossman & Elhanan Helpman, 1994. "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 23-44, Winter.
    2. Howard Pack, 1994. "Endogenous Growth Theory: Intellectual Appeal and Empirical Shortcomings," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 55-72, Winter.
    3. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    4. Alwyn Young, 1992. "A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore," NBER Chapters,in: NBER Macroeconomics Annual 1992, Volume 7, pages 13-64 National Bureau of Economic Research, Inc.
    5. Charles I. Jones, 1999. "Growth: With or Without Scale Effects?," American Economic Review, American Economic Association, vol. 89(2), pages 139-144, May.
    6. Jones, Charles I & Williams, John C, 2000. "Too Much of a Good Thing? The Economics of Investment in R&D," Journal of Economic Growth, Springer, vol. 5(1), pages 65-85, March.
    7. Robert M. Solow, 1994. "Perspectives on Growth Theory," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 45-54, Winter.
    8. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-784, August.
    9. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
    10. S. Illeris & G. Akehurst, 2002. "Introduction," The Service Industries Journal, Taylor & Francis Journals, vol. 22(1), pages 1-3, January.
    11. Jonathan Temple, 1999. "The New Growth Evidence," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 112-156, March.
    12. Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 641-680.
    13. Suzie Ballantyne & Simon Chapple & David C. Maré & Jason Timmins, 2003. "Movements Into and Out of Child Poverty in New Zealand: Results from the Linked Income Supplement," Working Papers 03_13, Motu Economic and Public Policy Research.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • O - Economic Development, Innovation, Technological Change, and Growth
    • P - Economic Systems

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpdc:0509017. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA). General contact details of provider: http://econwpa.repec.org .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.