Privatization and Competition

Hubert Gabrisch and Jens Hölscher

Chapter 4 in The Successes and Failures of Economic Transition, 2006, pp 60-78 from Palgrave Macmillan

Abstract: Abstract Chapter 4 addresses the relationship between ownership transformation and the establishment of competition. Competition is the driving force of an innovative market economy with private ownership. But privatization — the core of ownership transformation — is a necessary policy to generate a competitive private sector, but it is far from being sufficient. We discuss the problem of the ‘soft’ budget constraint, which prevails in CPEs with state-owned firms and which is a stubborn attendant of transition, when ownership transformation is conducted in a non-competitive way and a non-competitive environment. A taxonomy of privatization presents the various ways in which ownership transformation has been pursued. Finally the difficulties in creating a competitive environment are illustrated with an analysis of anti-trust policy in transition countries.

Keywords: Corporate Governance; Competition Policy; Supervisory Board; Transition Country; Merger Control (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62658-4_5

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DOI: 10.1057/9780230626584_5

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