Privatization Is Transition—Or Is It? | Zendy

Josef C. Brada | Zendy

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Privatization Is Transition—Or Is It?

Author(s) -

Josef C. Brada

Publication year - 1996

Publication title -

the journal of economic perspectives

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 9.614

H-Index - 196

eISSN - 1944-7965

pISSN - 0895-3309

DOI - 10.1257/jep.10.2.67

Subject(s) - voucher , liberalization , corporate governance , business , state (computer science) , state ownership , market economy , state owned , private sector , transition (genetics) , economics , finance , emerging markets , accounting , economic growth , biochemistry , chemistry , algorithm , computer science , gene

Various means of creating a private sector have been used in transition economies, including restitution, privatization of state firms through sales or voucher schemes, and start-ups of new private firms. The privatization of state-owned firms raises questions regarding the viability of future corporate governance but, in combination with economic liberalization, it has induced state-owned firms to react to their new environment. Differences in the extent of privatization among countries reflect largely differences in the privatization of state-owned firms. Qualitative differences reflect differences in who the new owners of these firms are.

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