2007/09/21 by John Bennett, Saul Estrin, Giovanni Urga · 1 citation
Economics, Econometrics and Finance · #Economic Growth and Productivity #Fiscal Policy and Economic Growth #Economic theories and models
paper · doi:10.1111/j.1468-0351.2007.00300.x
openalex publication_date 2007/09/21 · openalex created_date 2016/06/24 · openalex updated_date 2026/07/02
Abstract We examine how different methods of privatization might have affected growth in transition economies. Using several econometric specifications, including fixed effects and GMM, we estimate a cross‐country panel growth model for 1990–2003. We find only voucher privatization to have been significantly associated with faster growth. Moreover, neither private sector development per se nor capital market development exercised a significant influence. We speculate that voucher privatization may have been effective because of the speed with which links between firms and the state were severed.