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Comment on "Establishing Property Rights" (English)

This volume consists of two comments on Shleifer's "Establishing Property Rights" and a summary of the floor discussion on the paper. All of them were proceedings of the World Bank Annual Conference on Development Economics 1994. The first comment applied the logic of Shleifer's article to privatization in Poland. It also looked at control rights within firms. It argued that a frontal assault on politicians is only one of several reforms to change control rights. As an example, the comment explored the interactions of the safety net, the inflation tax, and control rights in Russia. The second comment elaborated on Shleifer's view that governments in most transition economies are too weak to protect property rights. It also pointed out that Shleifer's article focuses almost exclusively on preprivatization politics as a key determinant of the political feasibility of privatization, and does not really deal with the politics created by the allocation of control rights following privatization.




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Blanchard, Olivier Jean Frydman, Roman

Comment on "Establishing Property Rights" (English). Washington, D.C. : World Bank Group.