"The paper evaluates the effects of privatization in the post-communist economies and China. In post …-communist economies privatization to foreign owners results in a rapid improvement in performance of firms, while performance effects of … privatization to domestic owners are less impressive and vary across regions, coinciding with differences in policies and …

decisions highly contingent on firm characteristics and past performance, complicating the identification of the privatization … specification (including its random-growth variant). The paper further finds that the privatization effects are significantly larger …