Privatization: The Trade-Offs between Speed, Efficiency and Distribution
In Chapter 3, we discussed the introduction of a stabilization and liberalization package which may be seen as equivalent to the beginning of the transition. This chapter is devoted to the key dimension of institutional change: privatization. In most countries the process took a long time to implement and is still not complete after fifteen years. In a few others, the initial privatization impulse came fast: yet, at a cost.
KeywordsDepression Europe Income Nash Volatility
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