through 2000. We find that governments do not relinquish control after “privatization.” We show that the market-to-book ratios …

We analyze the role of privatization in creating a constituency for economic reform, markets, and democratic … privatization, we find positive effects for participants retaining shares, but little impact of participation alone. Our simulations …

International organizations promote privatization as precondition for economic development. But is there really too … little privatization? This political economy model asks for the incentives of governments to privatize or restructure a state …-owned firm. Different government types are compared to identify the political and institutional determinants of privatization …

The privatization process in Eastern Europe is not irreversible. Future governments may want to expropriate successful …. The threat of expropriation adversely affects investment and restructuring efforts. It is shown that a mass privatization … privatization revenues for the government than a policy that relies exclusively on selling shares to the highest bidder. …

The privatization process in Eastern Europe is not irreversible. Future governments may want to (partially) expropriate … population. Diversified mass privatization is better than insider privatization. Furthermore, people should be discouraged to … expected profits and privatization revenues for the government. …