Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later

Sergio Godoy and Joseph Stiglitz

Chapter 4 in Transition and Beyond, 2007, pp 89-117 from Palgrave Macmillan

Abstract: Abstract The end of the communist era brought much optimism over the growth possibilities of the economies that are now referred to as the transition countries. An inefficient system, rife with distortions and without incentives, was to be replaced by the market. Privatization, liberalization, and decentralization would bring unprecedented prosperity. To be sure, there were some worries about a short transition recession. But the only real issue was how best to secure the transition.

Keywords: Corporate Governance; Ordinary Little Square; Transition Country; Institutional Variable; Gross National Product (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230590328_5

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