Between State and Market: Mass Privatization in Transition Economies
Ira W. Lieberman, Stilpon Nestor, Raj M. Desai
World Bank Publications, Jan 1, 1997 - Political Science - 250 pages
IFC Discussion Paper No. 32. Over the years, demand for education at all levels in Kenya has greatly outpaced supply, a gap that has been reduced by private schools catering to the needs of a wide range of socioeconomic groups. This gap will widen further unless the private sectors role is expanded, but private educational institutions face a number of serious constraints, primarily stemming from lack of adequate finance and, in many cases, limited management skills. This paper reviews the market and its constraints and focuses on conditions under which private financial institutions and the International Finance Corporation might play a useful role in the sector. Annexes include 1996 operating costs of Kenya's academic, technical, and vocational schools.
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acquire approach assets bankruptcy blocks of shares bonds budget Bulgaria Central and Eastern certificates citizens commercial competition corporate governance corporatization countries created Czech Republic distribution Eastern Europe efficient employees equity federal financial-industrial groups firms fund managers golden share holders holding companies implementation incentives industrial initial insiders institutions interest investment funds issues joint stock companies Kazakhstan large enterprises liquidity mass privatization program medium-size and large ment million Ministry of Privatization Moldova offered owners Parliament participation Poland political portfolio prises private sector privatiza privatized companies privatized enterprises problems property rights reform regulation regulatory residual share restructuring result role Romania Russia scheme securities market sell shareholders sold stakes state-owned enterprises stock exchange Svyazinvest tenders tion trading transactions transfer transition economies transparent Ukraine vatization voucher auctions voucher funds voucher privatization World Bank Yes Yes Yes
Page 141 - Restructuring Banks and Enterprises - Recent Lessons from Transition Countries, World Bank Discussion Papers No.
Page 176 - Boycko, Maxim, Andrei Shleifer, and Robert W. Vishny (1995) Privatizing Russia. Cambridge, MA: MIT Press.
Page 201 - ... before worked in the Soviet Union and lacked staff familiar with Russia. Similarly, the US government faced substantial pressure to disburse Freedom Support Act funds quickly beginning in 1993, when funding for bilateral assistance directed at economic transition increased. According to officials from the World Bank, the European Bank for Reconstruction and Development, the United States, and the European Union, the effectiveness of assistance programs often suffered from being too broad and...
Page 129 - Coping with Hydra — State Ownership after Privatization: A Comparative Study of the Czech Republic, Hungary, and Russia' in: Frydman, Roman, Cheryl W.
Page 142 - Kawalec, Stefan, Slawomir Sikora, and Piotr Rymaszewski. 1994. "Dealing with Bad Debts: The Case of Poland." In Gerard Caprio, David Folkerts-Landau, and Timothy D. Lane, eds., Building Sound Finance in Emerging Market Economies.
Page 151 - ... the other's primacy of interest in markets important to the other, in the expectation that its own important interests will be similarly respected. Like national states, the great conglomerates may come to have recognized spheres of influence and may hesitate to fight local wars vigorously because the prospect[s] of local gain are not worth the risk of general warfare.28 Edwards...