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Methods of privatization and economic growth in transition economies1

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  • John Bennett
  • Saul Estrin
  • Giovanni Urga

Abstract

We examine how different methods of privatization might have affected growth in transition economies. Using several econometric specifications, including fixed effects and GMM, we estimate a cross‐country panel growth model for 1990–2003. We find only voucher privatization to have been significantly associated with faster growth. Moreover, neither private sector development per se nor capital market development exercised a significant influence. We speculate that voucher privatization may have been effective because of the speed with which links between firms and the state were severed.

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  • John Bennett & Saul Estrin & Giovanni Urga, 2007. "Methods of privatization and economic growth in transition economies1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 15(4), pages 661-683, October.
    • Handle: RePEc:bla:etrans:v:15:y:2007:i:4:p:661-683
    DOI: 10.1111/j.1468-0351.2007.00300.x
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    Cited by:

    1. Andrzej Cieślik & Łukasz Goczek, 2018. "Corruption, Privatisation and Economic Growth in Post-communist Countries," Europe-Asia Studies, Taylor & Francis Journals, vol. 70(8), pages 1303-1325, September.
    2. Horaček Jan & Nikolić Helena, 2021. "Privatization in Croatia: Standpoint of Croatian Citizens in 1998 and 2018," Business Systems Research, Sciendo, vol. 12(1), pages 1-16, May.
    3. Abdul Aleem Qureshi & Syed Faizan Iftikhar & Mohsin Hasnain Ahmed, 2017. "The Fiscal Impacts of Privatization Reforms in Pakistan: A Dynamic Analysis," Econometrics Letters, Bilimsel Mektuplar Organizasyonu (Scientific letters), vol. 4(1), pages 17-32.
    4. Hu, Jinshuai & Jiang, Haiyan & Wu, Yibing, 2023. "How does privatization affect cash dividends? Quasi-experimental evidence from China," Emerging Markets Review, Elsevier, vol. 57(C).
    5. Li, Renyu & Ma, Zhongxin & Chen, Xirong, 2020. "Historical market genes, marketization and economic growth in China," Economic Modelling, Elsevier, vol. 86(C), pages 327-333.
    6. Oye Abioye, 2022. "A Literature Review of Privatization Models, Theoretical Framework for Nigerian Railway Corporation Privatization," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(8), pages 1-36, August.

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