Time to Rethink Privatization in Transition Economies?

J. Nellis

Working Papers from World Bank - International Finance Corporation

Abstract: Worlwide, evidence is increasing that privatization improves firm performance. But in some institutionally-weak transition economies, ownership change has so far not delivered on its promise. Why? Mass and rapid privatization shcmes turned over mediocre assets to people lacking the incentives, skills and resources to manage them well. What is to be done? Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strenghten the managerial and administrative capacities of the state.

Keywords: PRIVATIZATION; OWNERSHIP; ENTERPRISES (search for similar items in EconPapers)
JEL-codes: D23 L20 L33 (search for similar items in EconPapers)
Pages: 29 pages
Date: 1999
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Citations: View citations in EconPapers (68)

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