Chapter 8 Methods and Institutions – How do They Matter?: Lessons from Privatization and Restructuring in the Post-Socialist Transition

Itzhak Goldberg and John Nellis

A chapter in Privatization in Transition Economies: The Ongoing Story, 2007, pp 345-370 from Emerald Group Publishing Limited

Abstract: In theory, the method employed to transfer ownership from public to private hands is a secondary concern. But when the legal-institutional environment is weak, the method of sale matters greatly. The experiences of the transition economies have taught us that different forms of sales methods produce very different types of owners, who vary greatly in their commitment to, and ability to carry out restructuring (meaning the changes required to allow the firm to survive in a competitive market setting). The method of privatization is thus an important factor in determining1an efficient allocation of ownership rights.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eme:csefzz:s1569-3759(07)00008-3

DOI: 10.1016/S1569-3759(07)00008-3

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