Download or read book Time to Rethink Privatization in Transition Economies written by John R. Nellis and published by World Bank Publications. This book was released on 1999-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.

Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Elsevier. This book was released on 2008 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation.

Download or read book Privatization in Transition Countries Lessons From the First Decade written by Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 1999-09-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors' view is that any privatisation is better than none, regardless of whether a stable, competitive environment has been established first. However, private companies started from scratch perform best, followed by newly privatised firms run by outsiders, either local or foreign. Privatised companies dominated by insiders do less well, but even they regularly outperform state enterprises. Without an appropriate market environment though, managers may spend more time lobbying the government for support than undertaking painful restructuring measures.

Download or read book Privatization in Transition Countries written by Mr.Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 1999-01-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews a selection of studies on privatization experiences in transition countries. Empirical studies almost invariably show privatized enterprises outperform state enterprises. Moreover, the literature identifies de novo firms as being clearly the best performers, followed by outsider-dominated firms, while insider-dominated firms are the least efficient among those newly privatized. The importance of de novo firms in enlarging the private sector in transition economies is reviewed, along with the question of whether privatization efforts support or hinder de novo private sector development. Finally, the paper discusses the importance of providing a suitable market environment for successful private-sector development.

Download or read book Privatization in Transition Countries written by Havrylyshyn, Oli and published by . This book was released on 2004-01 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Secondary Privatization in Transition Economies written by Iraj Hoshi and published by Springer. This book was released on 2003-09-15 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization was the fundamental pillar of transition from plan to market in former socialist countries. But little is known about the fate of companies that were privatized in large scale privatization schemes such as mass privatization or management-employee buyouts. This is the first original study aiming to fill this gap. It assesses wholesale privatization schemes in three leading transition countries - the Czech Republic, Poland and Slovenia - in terms of the evolving concentration of ownership and relations to firm performance.

Download or read book Privatization in Latin America written by Alberto Chong and published by World Bank Publications. This book was released on 2005-03-15 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? 'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University

Download or read book Structural Adjustment in the Transition written by Paul Siegelbaum and published by World Bank Publications. This book was released on 2002-01-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation The study reviews the transition efforts of four countries - Albania, Azerbaijan, Kyrgyz Republic, and Moldova, to develop recommendations, which may benefit countries in future transition efforts. These countries have been unable to overcome obstacles to achieve any sustainable success in terms of growth or poverty reduction.

Download or read book Privatisation and Structural Change in Transition Economies written by Yelena Kalyuzhnova and published by Springer. This book was released on 2003-09-08 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatisation and Structural Change in Transition Economies brings together specialists from different areas (governance, regulation, macro-econometrics, micro-econometrics, enterprise culture, foreign direct investment, technology transfer) to focus on the many different aspects of the privatization process in transition economies. The book does not dwell on the administrative or procedural aspects of privatisation. Instead it attempts to understand the bigger picture in terms of underlying policy environment and supporting legal and economic measures which helped to a large extent to determine the eventual success or failure of privatization programmes.

Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on 2004 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.

Download or read book A Decade of Transition written by Mr.Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 2001-04-27 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume reviews the experience of 25 non-Asian transition economies 10 years into their transformation to market economies. The volume is based on an IMF conference held in February 1999 in Washington, D.C., to take stock of the achievements and the challenges of transition in the context of three questions: How far has transition progressed ineach country? What factors explain the differences in the progress made? And what remains to be done?

Download or read book Transition Economies written by Aleksandr V. Gevorkyan and published by Routledge. This book was released on 2018-04-17 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interdisciplinary study offers a comprehensive analysis of the transition economies of Central and Eastern Europe and the former Soviet Union. Providing full historical context and drawing on a wide range of literature, this book explores the continuous economic and social transformation of the post-socialist world. While the future is yet to be determined, understanding the present phase of transformation is critical. The book’s core exploration evolves along three pivots of competitive economic structure, institutional change, and social welfare. The main elements include analysis of the emergence of the socialist economic model; its adaptations through the twentieth century; discussion of the 1990s market transition reforms; post-2008 crisis development; and the social and economic diversity in the region today. With an appreciation for country specifics, the book also considers the urgent problems of social policy, poverty, income inequality, and labor migration. Transition Economies will aid students, researchers and policy makers working on the problems of comparative economics, economic development, economic history, economic systems transition, international political economy, as well as specialists in post-Soviet and Central and Eastern European regional studies.

Download or read book State Labor and the Transition to a Market Economy written by Agnieszka Paczyńska and published by Penn State Press. This book was released on 2015-06-19 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to mounting debt crises and macroeconomic instability in the 1980s, many countries in the developing world adopted neoliberal policies promoting the unfettered play of market forces and deregulation of the economy and attempted large-scale structural adjustment, including the privatization of public-sector industries. How much influence did various societal groups have on this transition to a market economy, and what explains the variances in interest-group influence across countries? In this book, Agnieszka Paczyńska explores these questions by studying the role of organized labor in the transition process in four countries in different regions—the Czech Republic and Poland in eastern Europe, Egypt in the Middle East, and Mexico in Latin America. In Egypt and Poland, she shows, labor had substantial influence on the process, whereas in the Czech Republic and Mexico it did not. Her explanation highlights the complex relationship between institutional structures and the “critical junctures” provided by economic crises, revealing that the ability of groups like organized labor to wield influence on reform efforts depends to a great extent on not only their current resources (such as financial autonomy and legal prerogatives) but also the historical legacies of their past ties to the state. This new edition features an epilogue that analyzes the role of organized labor uprisings in 2011, the protests in Egypt, the overthrow of Mubarak, and the post-Mubarak regime.

Download or read book Economic Developments in Contemporary Russia written by Ian Jeffries and published by Routledge. This book was released on 2011-03-07 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of Russia’s difficult economic transition from a command economy since the early 1990s. It covers the financial crisis of August 1998 and the global financial crisis a decade later. Key subjects covered include economic transition, privatization and liberalization; changes in land ownership and agriculture; energy; foreign direct investment; economic stabilization; and economic performance. Russia is well endowed with raw materials, especially oil and natural gas; this book argues that in some ways this has not helped Russia’s attempts to become a more diversified and high-tech economy. Overall, the book demonstrates how much the Russian economy has changed in the period. It continues - and adds to – the overview of developments in the author’s The New Russia (2002), and is the companion volume to Political Developments in Contemporary Russia (2011) - both published by Routledge.

Download or read book Finance Development June 1999 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 1999-01-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

Download or read book Accounting Reform in Transition and Developing Economies written by Robert W. McGee and published by Springer Science & Business Media. This book was released on 2008-11-16 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: The editor has assembled a stellar group of experts to address such topics as: accounting reform in Russia, Ukraine, Estonia, Armenia, Serbia, China, and Spain; accounting education and development of the accounting profession in several transition economies; and corporate governance issues in the developing world.

Download or read book The Future of State Owned Financial Institutions written by Gerard Caprio and published by Rowman & Littlefield. This book was released on 2010-12-01 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research suggests that if the majority of a country's financial institutions are owned by the state, that country will experience slower financial development, less efficient financial systems, less private sector credit, and slower GDP growth. Yet more than 40 percent of the world's population live in countries in which public sector institutions dominate the banking system. In The Role of State-Owned Financial Institutions: Policy and Practice noted experts discuss the challenges presented by state-owned financial institutions and offer cross-disciplinary solutions for policymakers and banking regulators. The issues include: methods for effectively managing, reforming, and privatizing state-owned banks; the fiscal costs and contingent liabilities of state-owned banks; macroeconomic implications and the impact of state-owned banking on access to credit in an economy; guidance for effective supervision of state-owned banks; managerial perspectives on improving products, human resources, and risk; management case studies of different methods of privatization, such as initial public offerings, employee stock ownership plans, and strategic investors Contributors include David Binns (Beyster Institute), Robert Cull (World Bank), Ron Gilbert (ESOP Services), James A. Hanson (World Bank), Richard Hemming (International Monetary Fund), Fred Huibers (ING Research), Arminio Fraga (formerly Central Bank of Brazil), Nicholas Lardy (Institute for International Economics), David Marston (International Monetary Fund), Moody's Global Investor Service, Herman Mulder (ABN-Amro), William Nichol (Deutsche Bank AG), Urjit Patel (Infrastructure Development Finance Company, India), and P. S. Srinivas (World Bank).