Estrin, Saul; Hanousek, Jan; Kočenda, Evžen; Švejnar, Jan - 2009
associated with lower employment. When accompanied by complementary reforms, privatization has a positive effect on economic … growth. Three factors appear to drive the more positive effect of privatization to foreign than domestic owners. Domestic … tunneling and in some countries new large shareholders artificially decreased performance. The important policy implication is …