search query: @author Estrin, S. / total: 12
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| Author: | Bennett, J. Estrin, S. Maw, J. |
| Title: | Why did transition economies choose mass privatization? |
| Journal: | Journal of the European Economic Association
2005 : APR-MAY, VOL. 3:2-3, p. 567-575 |
| Index terms: | government privatization transition economies |
| Language: | eng |
| Abstract: | This paper discusses privatization, which in many countries has taken the form of distribution of states assets at a zero price (mass privatization). The authors provide a rationale for these policies in terms of political feasibility constraint, preventing sale at a negative price. The government may choose to retain some ownership in order to make the constraint bite, in effect raising its bargaining power. As a result, mass privatization may actually have been revenue-maximizing; that is, may have been rational in an economic sense, as well as in the political sense previously claimed. |
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