"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 …

leverage, (ii) have low levels of profitability, (iii) are less capitalized, (iv) have low marginal productivity of capital …