Effects of privatization and ownership in transition economies

0389921 - NHÚ 2013 GB eng V - Research Report
Estrin, S. - Hanousek, Jan - Kočenda, Evžen - Švejnar, Jan
Effects of privatization and ownership in transition economies.
[Milton Keynes]: [The Open University, Faculty of Social Sciences, FINNOV Research Office], 2011. 50 s. FINNOV discussion paper, 6.6.
R&D Projects: GA MŠMT 7E10066
Institutional research plan: CEZ:AV0Z70850503
Keywords : privatization * ownership * firm performance
Subject RIV: AH - Economics
http://www.finnov-fp7.eu/sites/default/files/FINNOV_DP6.6.pdf

In this paper, we evaluate what we have learned to date about the effects of privatization from the experiences during the last fifteen to twenty years in the post-communist (transition) economies and, where relevant, China. We distinguish separately the impact of privatization on efficiency, profitability, revenues, and other indicators and distinguish between studies on the basis of their econometric methodology in order to focus attention on more credible results. The effect of privatization is mostly positive in Central Europe, but quantitatively smaller than that to foreign owners and greater in the later than earlier transition period. In the Commonwealth of Independent States, privatization to foreign owners yields a positive or insignificant effect while privatization to domestic owners generates a negative or insignificant effect. The available papers on China find diverse results, with the effect of non-state ownership on total factor productivity being mostly positive but sometimes insignificant or negative.
Permanent Link: http://hdl.handle.net/11104/0218902