Privatization of state assets is an essential step to the creation of a viable private sector in the formerly socialist … privatization, with emphasis on Poland, Hungary, and Czechoslovakia. Progress in privatizing small firms has been rapid in several … East European countries, but privatization of large firms has been slow, with most success to date in Hungary …

the market. In particular, we look at whether speed of privatization, legal institutions or initial conditions are more … endogeneity, confused issues of speed and level of privatization, and did not face up to the problems of multicollinearity. Our … results suggest that, contrary to the earlier literature, the speed of privatization is negatively associated with growth, but …

policies and structural reforms, particularly privatization, contributed to the growth recovery. We also conclude that the …