This paper examines the restructuring of state assets in markets deregulated by privatizations and investment … liberalizations. We show that the government has a stronger incentive to restructure than the buyer: A firm restructuring only takes … into account how much its own profit will increase. The government internalizes that restructuring increases the sales …

We investigate the impact of differences in privatisation method on national economic performance in transition … transition and recession was over. Our analysis suggests that an advantage of mass privatisation was that it led spontaneously to …

that characterise the transition process in both the economic and political realms. Contrary to a widespread assumption … survey the vast empirical literature on transition economies in order to provide evidence on the correlation between … expectations at the beginning of transition and success of the transition process. We provide the first comprehensive survey of the …

. Wages, employment and welfare increase as a result of further product market integration. It is interesting to note that the …

privatization and the reduction in social welfare and the possibility that the privatization process itself may have conflicting …

in skills remains a hindrance in enhancing labour as well as overall welfare. …