The Federal Reserve Board eagle logo links to Board's home page

International Finance Discussion Papers
The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Political and Economic Consequences of Alternative Privatization Strategies
Catherine L. Mann, Stefanie Lenway, and Derek Utter
1993-455  (September 1993)

Abstract:  The different approaches to large-scale privatization in Hungary, Poland, and the Czech Republic imply somewhat different patterns of corporate governance--that is, ownership, monitoring, and control of firms. Corporate governance affects economic incentives within the firm, and therefore economic performance of the firm. Similarly, patterns of ownership implied by the programs affect the distribution of gains from reform. Privatizing the large enterprises will importantly influence resource allocation, employment, and output. Consequently, the patterns of corporate governance embodied in the privatization strategies could affect macroeconomic performance and the development of constituencies in favor of or against continued reforms.

Full paper(342 KB PDF)

PDF files: Adobe Acrobat Reader   ZIP files: PKWARE

Home | IFDPs | List of 1993 IFDPs
Accessibility | Contact Us
Last update: October 16, 2008