Towards the Theory of Privatization

Polterovich, Victor (1995): Towards the Theory of Privatization.

Abstract

An attempt is made to define main problems of the privatization theory and to present a survey of some results in this area. Two models are discussed that demonstrate paradoxical consequences of property right restrictions and dynamics of property right redistribution which entails a stratification of society. Two ways of transition from centralized to a market system (through privatization and through price liberalization processes) are compared in frameworks of a mixed economy model with queues. Relations between theoretical conclusions and real issues of the Russian privatization are discussed as well.

• Item Type: MPRA Paper
• Language: English
• Keywords: privatization; privatization theory; transition; Russia
• Subjects: P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy

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