Privatization Market Liberalization And Learning In Transition Economies

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Privatization, Market Liberalization and Learning in Transition Economies

Author : Rachael E. Goodhue
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Privatization, Market Liberalization and Learning in Transition Economies by : Rachael E. Goodhue

Download or read book Privatization, Market Liberalization and Learning in Transition Economies written by Rachael E. Goodhue and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization and market liberalization are widely considered to be complementary reforms in transition economies. This paper challenges this view and the closely related "big bang" approach to economic reform. Our analysis suggests that when pursued simultaneously, privatization may actually impede the transition process following market liberalization and reduce social welfare. Our result is based on an explicit model of market learning, which is a vital component of the economic transition process. Compared to a fully-functioning market in a mature market economy, a market in transition is characterized by greater uncertainty regarding market conditions, including free market equilibrium levels of prices and quantities. Market participants must learn about these conditions through their participation in the market process. When the e ects of learning are incorporated into the analysis, the optimal level of privatization decreases monotonically as the level of uncertainty increases.

Privatization in Transition Economies

Author : Ira W. Lieberman
Publisher : Elsevier
ISBN 13 : 076231463X
Total Pages : 383 pages
Book Rating : 4.7/5 (623 download)

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Book Synopsis Privatization in Transition Economies by : Ira W. Lieberman

Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Elsevier. This book was released on 2008 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation.

Between State and Market

Author : Ira W. Lieberman
Publisher : World Bank Publications
ISBN 13 : 9780821339473
Total Pages : 270 pages
Book Rating : 4.3/5 (394 download)

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Book Synopsis Between State and Market by : Ira W. Lieberman

Download or read book Between State and Market written by Ira W. Lieberman and published by World Bank Publications. This book was released on 1997-01-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 32. Over the years, demand for education at all levels in Kenya has greatly outpaced supply, a gap that has been reduced by private schools catering to the needs of a wide range of socioeconomic groups. This gap will widen further unless the private sectors role is expanded, but private educational institutions face a number of serious constraints, primarily stemming from lack of adequate finance and, in many cases, limited management skills. This paper reviews the market and its constraints and focuses on conditions under which private financial institutions and the International Finance Corporation might play a useful role in the sector. Annexes include 1996 operating costs of Kenya's academic, technical, and vocational schools.

Time to Rethink Privatization in Transition Economies?

Author : John R. Nellis
Publisher : World Bank Publications
ISBN 13 : 9780821345030
Total Pages : 44 pages
Book Rating : 4.3/5 (45 download)

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Book Synopsis Time to Rethink Privatization in Transition Economies? by : John R. Nellis

Download or read book Time to Rethink Privatization in Transition Economies? written by John R. Nellis and published by World Bank Publications. This book was released on 1999-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.

The Role of Credit Markets in a Transition Economy with Incomplete Public Information

Author : Kenneth Kletzer
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Role of Credit Markets in a Transition Economy with Incomplete Public Information by : Kenneth Kletzer

Download or read book The Role of Credit Markets in a Transition Economy with Incomplete Public Information written by Kenneth Kletzer and published by International Monetary Fund. This book was released on 1996-02 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we explore some of the informational problems that constrain the development of credit markets in transition economies. We characterize investment patterns under uncertainty and high costs of entry, when agents learn about the ultimate value of enterprises through production in a Bayesian way. Inefficiencies due to the lack of public information reduce the average return to capital. Under asymmetric information, credit would go to activities that can provide enough co-finance. Credit markets may fail to develop for a while if there is not enough individual wealth to complement credit. Once they operate, credit markets may magnify distortions in equity markets, such as those due to spontaneous privatization. An argument for the sequencing of capital market liberalization is provided.

Privatisation and Structural Change in Transition Economies

Author : Yelena Kalyuzhnova
Publisher : Springer
ISBN 13 : 0230378331
Total Pages : 272 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Privatisation and Structural Change in Transition Economies by : Yelena Kalyuzhnova

Download or read book Privatisation and Structural Change in Transition Economies written by Yelena Kalyuzhnova and published by Springer. This book was released on 2003-09-08 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatisation and Structural Change in Transition Economies brings together specialists from different areas (governance, regulation, macro-econometrics, micro-econometrics, enterprise culture, foreign direct investment, technology transfer) to focus on the many different aspects of the privatization process in transition economies. The book does not dwell on the administrative or procedural aspects of privatisation. Instead it attempts to understand the bigger picture in terms of underlying policy environment and supporting legal and economic measures which helped to a large extent to determine the eventual success or failure of privatization programmes.

Privatization, Stabilization, and Liberalization

Author : Chengxin Ouyang
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Privatization, Stabilization, and Liberalization by : Chengxin Ouyang

Download or read book Privatization, Stabilization, and Liberalization written by Chengxin Ouyang and published by . This book was released on 1999 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Secondary Privatization in Transition Economies

Author : Iraj Hoshi
Publisher : Springer
ISBN 13 : 0230377017
Total Pages : 285 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Secondary Privatization in Transition Economies by : Iraj Hoshi

Download or read book Secondary Privatization in Transition Economies written by Iraj Hoshi and published by Springer. This book was released on 2003-09-15 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization was the fundamental pillar of transition from plan to market in former socialist countries. But little is known about the fate of companies that were privatized in large scale privatization schemes such as mass privatization or management-employee buyouts. This is the first original study aiming to fill this gap. It assesses wholesale privatization schemes in three leading transition countries - the Czech Republic, Poland and Slovenia - in terms of the evolving concentration of ownership and relations to firm performance.

Privatization in Transition Countries

Author : Mr.Oleh Havrylyshyn
Publisher : International Monetary Fund
ISBN 13 : 1451842279
Total Pages : 45 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Privatization in Transition Countries by : Mr.Oleh Havrylyshyn

Download or read book Privatization in Transition Countries written by Mr.Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 1999-01-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews a selection of studies on privatization experiences in transition countries. Empirical studies almost invariably show privatized enterprises outperform state enterprises. Moreover, the literature identifies de novo firms as being clearly the best performers, followed by outsider-dominated firms, while insider-dominated firms are the least efficient among those newly privatized. The importance of de novo firms in enlarging the private sector in transition economies is reviewed, along with the question of whether privatization efforts support or hinder de novo private sector development. Finally, the paper discusses the importance of providing a suitable market environment for successful private-sector development.

Reforming Infrastructure

Author : Ioannis Nicolaos Kessides
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Reforming Infrastructure by : Ioannis Nicolaos Kessides

Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on 2004 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.

Reality Check

Author : John R. Nellis
Publisher : CGD Books
ISBN 13 :
Total Pages : 464 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Reality Check by : John R. Nellis

Download or read book Reality Check written by John R. Nellis and published by CGD Books. This book was released on 2005 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the 1990's, privatization of inefficient state-owned enterprises was strongly embraced in developing and transitional economies. Little attention has gone to the distributional implications of the privatization movement, a particularly surprising oversight given the current backlash in many settings against further privatization. This book offers a comprehensive set of country-specific studies on the effects of privatization on people --winners and losers in different income, employment, and education groups. The studies analyze the changes in public tax revenue from privatized enterprises, shifts in pension and other liabilities, and changes in income of different groups. Contributors include David McKenzie (Stanford University), Dilip Mookherjee (Boston University), Gover Barja (Universidad Católica Boliviana, La Paz), Miguel Urquiola (Columbia University), Samuel Freije (Universidad de Las Américas in Puebla, Mexico), Luis A. Rivas (Ministry of Finance and Central Bank of Nicaragua), Máximo Torero, Enrique Schroth, and Alberto Pasco Font (Group of Analysis for Development [GRADE], Lima), Roberto Macedo (University of São Paulo, Presbyterian Mackenzie University, and Foundation Institute of Economic Research, São Paolo), Antonio Estache (World Bank), Michael Bleyzer and Edi Segura (SigmaBleyzer Corporation), Gary H. Jefferson, (Brandeis University), Su Jian (Brandeis and Peking Universities), Jiang Yuan and Yu Xinhua (National Bureau of Statistics, Beijing), and Malathy Knight-John and P.P.A. Wasantha (Institute of Policy Studies, Sri Lanka).

A Fourth Way?

Author : Gregory S. Alexander
Publisher : Routledge
ISBN 13 : 1136646574
Total Pages : 322 pages
Book Rating : 4.1/5 (366 download)

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Book Synopsis A Fourth Way? by : Gregory S. Alexander

Download or read book A Fourth Way? written by Gregory S. Alexander and published by Routledge. This book was released on 2017-09-08 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition to market economies in Eastern Europe, considered in the light of Western experiences of seeking a middle way between classical liberalism and state socialism.

Transition and Economics

Author : Gérard Roland
Publisher : MIT Press
ISBN 13 : 9780262681483
Total Pages : 440 pages
Book Rating : 4.6/5 (814 download)

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Book Synopsis Transition and Economics by : Gérard Roland

Download or read book Transition and Economics written by Gérard Roland and published by MIT Press. This book was released on 2000 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition from socialism to capitalism in former socialist economies has transformed the economic structure. This book provides an overview of research on the issues raised by the shift from collective to private ownership.

Privatization, Liberalization, and Destruction

Author : László Csaba
Publisher : Dartmouth Publishing Company
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Privatization, Liberalization, and Destruction by : László Csaba

Download or read book Privatization, Liberalization, and Destruction written by László Csaba and published by Dartmouth Publishing Company. This book was released on 1994 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume is a selection of papers devoted to key issues of economic transformation; privatization, liberalization, the role of the financial sector and external economic relations. The interplay of these four areas of transition strategy forms the backbone of the collection.

Privatization in Transition Countries: Lessons From the First Decade

Author : Oleh Havrylyshyn
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Privatization in Transition Countries: Lessons From the First Decade by : Oleh Havrylyshyn

Download or read book Privatization in Transition Countries: Lessons From the First Decade written by Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 1999-09-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors' view is that any privatisation is better than none, regardless of whether a stable, competitive environment has been established first. However, private companies started from scratch perform best, followed by newly privatised firms run by outsiders, either local or foreign. Privatised companies dominated by insiders do less well, but even they regularly outperform state enterprises. Without an appropriate market environment though, managers may spend more time lobbying the government for support than undertaking painful restructuring measures.

Privatization in transition economies

Author : Ryszard Rapacki
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (221 download)

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Book Synopsis Privatization in transition economies by : Ryszard Rapacki

Download or read book Privatization in transition economies written by Ryszard Rapacki and published by . This book was released on 1992 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Transition in Eastern Europe, Volume 1

Author : Olivier Jean Blanchard
Publisher : University of Chicago Press
ISBN 13 : 0226056813
Total Pages : 288 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Transition in Eastern Europe, Volume 1 by : Olivier Jean Blanchard

Download or read book The Transition in Eastern Europe, Volume 1 written by Olivier Jean Blanchard and published by University of Chicago Press. This book was released on 2008-04-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: When communism fell in 1989, the question for most Eastern European countries was not whether to go to a market economy, but how to get there. Several years later, the difficult process of privatization and restructuring continues to concern the countries of the region. The Transition in Eastern Europe, Volumes 1 and 2 is an analysis of the experiences of various countries making the transition to market economies and examines the most important challenges still in store. Volume 1, Country Studies, gives an in-depth, country-by-country analysis of various reform experiences, including historical backgrounds and discussions of policies and results to date. The countries analyzed are Poland, Czechoslovakia, Hungary, eastern Germany, Slovenia, and Russia. Written by leading economists, some of whom helped shape local and national reforms, this volume identifies common progress, common difficulties, and tentative solutions to the problems of economic transition. Volume 2, Restructuring, focuses on specific issues of transition, including how to design labor market institutions, privatization, new fiscal structures, and bankruptcy laws; how to reorganize foreign trade; and how to promote foreign direct investment. The articles, written by experts in the field, will be of direct help to those involved in the transition process. These volumes provide a standard reference on economic transition in the region for policymakers in Eastern Europe and in western countries, for international agencies concerned with the transition process, and for anyone interested in learning about the dramatic changes that have recently occurred in Eastern Europe.