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Hierarchy of Governance Institutions and the Pecking Order of Privatisation: Central-Eastern Europe and Central Asia Reconsidered

Mickiewicz, T; (2008) Hierarchy of Governance Institutions and the Pecking Order of Privatisation: Central-Eastern Europe and Central Asia Reconsidered. (Economics Working Papers 90). Centre for the Study of Economic and Social Change in Europe, SSEES, UCL: London, UK. Green open access

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Abstract

We discuss property rights, corporate governance frameworks and privatisation outcomes in the Central Eastern Europe and Central Asia (CEECA) region. We argue that while CEECA still suffers from deficient 'higher order' institutions, this is not attracting sufficient attention of international institutions like EBRD and World Bank, which focus on 'lower order' indicators. We discuss factors that may alleviate the negative impact of the weakness in institutional environment and argue for the pecking order of privatisation, where equivalent privatisation is given a priority, but speed is not compromised.

Type:Working / discussion paper
Title:Hierarchy of Governance Institutions and the Pecking Order of Privatisation: Central-Eastern Europe and Central Asia Reconsidered
Open access status:An open access version is available from UCL Discovery
Publisher version:http://www.ssees.ucl.ac.uk/publications/working_papers/wp90.pdf
Language:English
Additional information:Corresponding article record is available at http://discovery.ucl.ac.uk/1381928/
Keywords:Property rights, constraints on executive, corporate governance, law, regulation, ownership, privatisation, mass privatisation, Central Europe, Eastern Europe, Russia, Czech Republic, transition

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