Let the markets begin: The interplay between free prices and privatisation in early transition

Studies the impact of price liberalisation and privatisation in early transition. * Uses data for 27 economies in two-way fixed effects regressions. * There is a negative short-run effect of privatisation. * This is counterweighted by the existence of a system of free price signals. * Particular care is taken in examining the robustness of findings. This paper revisits the period of early post-communist transition to study the immediate impact on economic growth of the interplay between price liberalisation and large-scale privatisation in 27 economies. The trajectories along these two dimensi... Mehr ...