Chapter

Empirical Evidence on Privatization in Transition Economies

William Leon Megginson

in The Financial Economics of Privatization

Published in print February 2005 | ISBN: 9780195150629
Published online October 2005 | e-ISBN: 9780199835768 | DOI: http://dx.doi.org/10.1093/0195150627.003.0005
 Empirical Evidence on Privatization in Transition Economies

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This chapter examines the impact of privatization on transition economies. It looks at how the 26 countries that emerged from the former Soviet bloc adapted to the new era of political freedom and market economics that rose after 1989, and the privatization experience of China. All 26 countries that emerged from the Soviet bloc have begun the political and economic process of transition, but the process has been painful and incomplete. In contrast, China’s transition experience has been immensely successful. Over the past quarter-century, China has enjoyed rapid and almost uninterrupted economic growth, and has attracted more foreign direct investment than any country in the world except the United States.

Keywords: privatization; transition economies; economic performance; Central Europe; Eastern Europe; China; former Soviet bloc

Chapter.  21056 words.  Illustrated.

Subjects: Financial Markets

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