Hierarchy of Governance Institutions and the Pecking Order of Privatisation: Central-Eastern Europe and Central Asia Reconsidered

Tomasz Mickiewicz

No 90, UCL SSEES Economics and Business working paper series from UCL School of Slavonic and East European Studies (SSEES)

Abstract: We discuss property rights, corporate governance frameworks and privatisation outcomes in the Central Eastern Europe and Central Asia (CEECA) region. We argue that while CEECA still suffers from deficient 'higher order' institutions, this is not attracting sufficient attention of international institutions like EBRD and World Bank, which focus on 'lower order' indicators. We discuss factors that may alleviate the negative impact of the weakness in institutional environment and argue for the pecking order of privatisation, where equivalent privatisation is given a priority, but speed is not compromised.

Keywords: property rights; constraints on executive; corporate governance; law; regulation; ownership; privatisation; mass privatisation; Central Europe; Eastern Europe; Russia; Czech Republic; transition (search for similar items in EconPapers)
JEL-codes: G34 L33 P26 (search for similar items in EconPapers)
Date: 2008-08, Revised 2009-07
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Hierarchy of governance institutions and the pecking order of privatisation: Central-Eastern Europe and Central Asia reconsidered (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:see:wpaper:90

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