Mass privatization in transition economies
The distribution of state property to the private sector has always been and will continue to be intensely political. Relinquishing hiring, production, investment, and other enterprise decisions constitute a significant loss of potential rents to those who exercise control rights in state-owned ente...
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Format: | Buchkapitel |
Sprache: | eng |
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Zusammenfassung: | The distribution of state property to the private sector has always been and will continue to be intensely political. Relinquishing hiring, production, investment, and other enterprise decisions constitute a significant loss of potential rents to those who exercise control rights in state-owned enterprises. Additionally, the large transfer of wealth that privatization on a large-scale entails, combined with the potential for unemployment, loss of access to enterprise-based social services (which were substantial in state-socialist economies) threatens to undermine public support for privatization and reform in general. |
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ISSN: | 1569-3759 |
DOI: | 10.1016/S1569-3759(07)00003-4 |