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Friday, February 7, 2020 | History

2 edition of Privatization, asset distribution and equity in transitional economies found in the catalog.

Privatization, asset distribution and equity in transitional economies

Juha Honkkila

Privatization, asset distribution and equity in transitional economies

  • 187 Want to read
  • 35 Currently reading

Published by UNU World Institute for Development Economics Research (UNU/WIDER) in Helsinki, Finland .
Written in English

    Places:
  • Europe, Eastern.,
  • Former Soviet republics.,
  • East Asia.
    • Subjects:
    • Privatization -- Europe, Eastern.,
    • Privatization -- Former Soviet republics.,
    • Privatization -- East Asia.

    • Edition Notes

      StatementJuha Honkkila.
      SeriesWorking papers,, no. 125, WIDER working papers ;, WP 125.
      ContributionsWorld Institute for Development Economics Research.
      Classifications
      LC ClassificationsHD4140.7. .H66 1997
      The Physical Object
      Paginationvi, 62 p. :
      Number of Pages62
      ID Numbers
      Open LibraryOL419201M
      LC Control Number98123188
      OCLC/WorldCa37396984

      Saddam Hussein, dictator of semi-socialist Iraq, had invaded semi-capitalist Kuwait. The Public Works director insisted that his department be allowed to bid against the private firms, even though the city had promised not to lay off any displaced Public Works employees as a result of contracting out. And the recentralization of assets has not been tested in bankruptcy court, giving pause to the credit committees of many asset-based lenders. British industry would become more competitive internationally. The EU should decide only on enumerated issues that a local or member state authority cannot address themselves. All three must exist together.

      How capable are the voucher investment funds of restructuring enterprises, or how can they be made capable? As one Hungarian observer noted, this is the period of primitive capital accumulation in the post-socialist world. The movement toward local accountability and greater control over one's destiny is, however, not solely the result of the negative attitude towards central government. Israel Ministry of Finance. How they foster further evolution of ownership is equally important. Google Scholar Maman, D.

      Please note that corrections may take a couple of weeks to filter through the various RePEc services. The risks of privatization arise because developing and transitional economies, almost by Privatization, are handicapped by relatively weak institutions, less well-established rules of transparency, and often, not only high concentrations of economic and political power but a high correlation between those two areas of power. Government would save the taxpayer money. They thought they could sack people with impunity — not just signalling and maintenance staff but expert engineers and researchers — and carry out a massive line-upgrade cheaply with the most advanced new technology.


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Privatization, asset distribution and equity in transitional economies by Juha Honkkila Download PDF Ebook

Privatization also means different things in different parts of the world—where both the fundamentals of the economy and the purpose served by privatization may differ. Google Scholar Brady, R. If a major restructuring of the Privatization sector is required, distributional considerations demand that bank shareholders assume their share of losses; not all the costs should be passed to depositors and taxpayers.

It might have been more successful if other areas of government policy had created more complementary incentives, particularly in banks. Chicago also found that competition from the private sector could create incentives for public managers to be more effective. In the past 35 years, this commonly owned economy, this people's portion of the island, has to a greater or lesser degree become private.

Review of Statistics, 84 2— Experiments in privatization abound, from extensive efforts at sales to strategic owners as in Estonia and Hungaryto programs based primarily on insider buyouts as in Russia and Sloveniato innovative mass privatization programs involving the creation of large and powerful new financial intermediaries as in the Czech and Slovak Republics and Poland.

Privatization, Asset Distribution and Equity in Transitional Economies

He contends that profit-seeking private enterprises servicing public customers will find it in their interests to lobby for the expansion of public spending with no less vigor than did their public sector predecessors.

Johnson writes that diversity plays an important role in decentralized systems like ecosystemssocial groupslarge organizations, political Privatization. American Law and Economics Review, 7 1— Journal of Financial Economics, 58 1Privatization At the same time, with many high-profile ABL deals having been done and publicized, we are seeing a greater acceptance in the borrower community.

The German-born American banker was a central figure in transatlantic asset-based financings in the late s and early s. Google Scholar Lizal, L. Furthermore, enforcement is exclusively the domain of member states. Accessed 24 January This represents new opportunity for asset-based lenders in For traditional socialists, it meant "the people's hands".

Neither public nor private managers will always Privatization in the best interests of their shareholders. The UK has a tradition of being creditor friendly, so its emergence as a springboard for European asset-based lending is natural.

Google Scholar Ben-Bassat, A. I imagine they will do a decent job.Book review, Åslund, How Capitalism Was Built. The transformation contraction: There was an immediate decline in economic output, as might be expected with the collapse of the previous socialist system.

However, the extent of the collapse attributable to transformation. For transitional economies, a third option might be the best approach. This option, which, in prior scholarship, I’ve referred to as “Chameleon Equity” would have a company and its investors agree in advance to the ramifications of insolvency and the consequent default on obligations.

Decentralization or decentralisation (see spelling differences) is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group.

Concepts of decentralization have been applied to group dynamics and management science in private businesses and organizations.Mar 22, pdf Birdsall and Nellis () place the issue of the distributional impact of privatization more formally into an efficiency/equity framework.

The effect of privatization on income distribution between taxpayers and the new owners depends both on the initial price and on the post-sale stream of Cited by: 6.The performance of privatized firms in the Czech Download pdf.

voucher privatizations serve political goals of asset distribution to the populace that has little wealth and a large auction. The data include information on total sales, profits, employment and bank loans for the three years prior to privatization and book equity, assets, and Cited by: Aug 15,  · Privatization is now widespread ebook industrialized, developing and transitional economies.

The World Bank has played a key role in the implementation of privatization in low-income countries, attaching privatization to aid disbursements and promoting a pro-privatization culture. The World Bank’s core mandate is to eradicate poverty.

Economic Policy and Equity