Institutional economic theory of assets privatization and nationalization: Basic imperatives

Privatization and Nationalization Cycles

This paper studies the cycles of nationalization and privatization in resource-rich economies as a prime instance of unstable institutional reform. We discuss available evidence on the drivers and consequences of privatization and nationalization, reviewing the existing literature and presenting illustrative case studies. This leads to the main contribution of the paper: a static and dynamic mo...

PRIVATIZATION IN INDIA THE IMPERATIVES AND CONSEQUENCES OF GRADUALISM by

How party nationalization conditions economic voting

In this article we analyze the conditioning effect of party nationalization, and in particular dynamic nationalization, on economic voting. While previous single-country and cross-national studies suggest a weak correlation between economic conditions and voting patterns, we argue that this relationship is conditioned by the degree to which parties are dynamically nationalized. Using both case ...

The Institutional Basis of Successful Economic Reform: Privatization Effectiveness and Regime Change After Ukraine’s Orange Revolution

Why do similar economic reforms often produce dissimilar outcomes? We examine the impact of institutional environment on reform outcomes, exploiting a particular moment of institutional change: the 2004 Orange Revolution, which resulted in a dramatic shift in the balance of power among regions in Ukraine. Using a unique panel dataset of over 7,000 Ukrainian manufacturing enterprises, we estimat...

Privatization Methods and Economic Growth*

In low-income countries privatization, if implemented appropriately, may play an important role in generating growth. Using data recently available from Central and Eastern Europe, we therefore investigate the impact of alternative methods of privatization on economic growth. Our analysis suggests that the use of conventional privatization methods to match owners with firms can be inefficient i...