, Nash and Van Randenborgh (MNR 1994) by using the Wilcoxon and proportion tests to compare the pre- and post-privatization … studies, it has its shortcomings. Indeed, this method is unable to isolate the impact of privatization on firm performance … employed in this paper. Both approaches confirm that privatization in Vietnam brings about significant improvement in most …

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor … describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller …

soft budget-constraint syndrome, while privatization encourages the budget constraint to harden, although it does not form … liberalization, privatization and stabilization would suffice to produce an efficient market economy. Since then, it has become clear … that hardening the budget constraint needs to be given equal priority with these. Otherwise, the effects of privatization …