Economic Transition Phase II: Private Sector Development

Stern, Richard E. (December 1997) Economic Transition Phase II: Private Sector Development. Former Series > Reihe Osteuropa / East European Series 51


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Abstract: This paper studies private sector development in transition economies. To address this issue, many economist have focused on the issue of privatization, assuming that privatization is a proxy for private sector development. But as the experience of countries such as Poland has revealed, privatization, though important, is only part of the story. This paper takes a more comprehensive approach and considers the development of the private sector as the nexus of a policy agenda establishing a solid legal and institutional framework and promotes both privatization and the growth of capital markets. Though the analysis focuses on a handful of countries, the main conclusions are applicable to other countries in transition.;

Item Type: IHS Series
Keywords: 'Economic Development' 'Economic Growth' 'Economywide Country Studies'
Classification Codes (e.g. JEL): O11, O4, O57
Date Deposited: 26 Sep 2014 10:36
Last Modified: 01 Apr 2016 14:10

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