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The Financial Economics of Privatization$
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William Leon Megginson

Print publication date: 2005

Print ISBN-13: 9780195150629

Published to Oxford Scholarship Online: October 2005

DOI: 10.1093/0195150627.001.0001

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Empirical Evidence on Privatization in Transition Economies

Empirical Evidence on Privatization in Transition Economies

(p.154) 5 Empirical Evidence on Privatization in Transition Economies
The Financial Economics of Privatization

William Leon Megginson (Contributor Webpage)

Oxford University Press

This chapter examines the impact of privatization on transition economies. It looks at how the 26 countries that emerged from the former Soviet bloc adapted to the new era of political freedom and market economics that rose after 1989, and the privatization experience of China. All 26 countries that emerged from the Soviet bloc have begun the political and economic process of transition, but the process has been painful and incomplete. In contrast, China’s transition experience has been immensely successful. Over the past quarter-century, China has enjoyed rapid and almost uninterrupted economic growth, and has attracted more foreign direct investment than any country in the world except the United States.

Keywords:   privatization, transition economies, economic performance, Central Europe, Eastern Europe, China, former Soviet bloc

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