Confidence Building in Emerging Stock Markets* Investor confidence in reliable property rights and stable, market-oriented policies are a necessary condition for financial integration and the development of emerging stock markets. Announced market-oriented policies may be reversed, however, and are initially not fully credible. We argue that sustained privatization and liberalization programmes...

State socialist economies provided public housing to urban citizens at nominal cost, while allocating larger and better quality apartments to individuals in elite occupations. In transitions to a market economy, ownership is typically transferred to existing occupants at deeply discounted prices, making home equity the largest component of household wealth. Housing privatization is therefore a ...

The supposed failure of privatization in Latin America has recently become the source of street riots, protest demonstrations, and adverse news coverage. Riots in Arequipa, Peru, erupted in June 2002 following the announcement of a proposal to privatize power plants, while Cochabamba, Bolivia, witnessed a so-called water war in April 2000. Antiprivatization protests also occurred recently in Ec...

This paper reviews the Latin American experience with highway privatization during the last decade. Using evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail out franchise holders. Furthermore, our review of the evidence suggests that pervasive contract renegoti...

Privatization of data is an important technique that has been used by compilers to parallelize loops by eliminating storage-related dependences. When a compiler partitions computations based on the ownership of data, selecting a proper mapping of privatizable data is crucial to obtaining the benefits of privatization. This paper presents a novel framework for privatizing scalar and array variab...

In software transactional memory (STM) systems, it is useful to isolate a memory region accessed by one thread from all others, so that it can then operate on it “privately”, that is, without the instrumentation overhead of inter-transactional synchronization. Allowing transactions to implicitly privatize memory is a source of major performance degradation in state-of-the-art STMs. The alternat...

the main purpose of this research was to investigate farmer’s attitude towards privatization of agricultural extension in shirgah district , mazandaran province. the statistical population consisted of 15300 farmers who inhabited as residents in 54 villages. using stratified proportional random sampling, 150 farmers (through cochran formula) were selected. the study revealed that 84% of farmers...