Lessons from Eastern Europe's Voucher Privatization

David Ellerman

Challenge, 2001, vol. 44, issue 4, 14-37

Abstract: Several years have passed since the failure of shock therapy to create a vibrant market economy in Russia. Some of the architects of the original plans have admitted that their strategies were naive, incomplete, or excessively ambitious. Others still insist there were no viable alternatives. In this thorough piece, a World Bank economist assesses why voucher privatization in particular was such a popular reformist tool and why it was doomed from the beginning.

Date: 2001
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DOI: 10.1080/05775132.2001.11034107

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