A castle built on sand: the effects of mass privatization on stock market creation in transition economies

Arbeitspapier

This paper deals with the relationship between mass privatization and stock market development in transition economies.The link is investigated empirically using a panel of data that includes most transition countries.Our results confirm the hypothesis that mass privatization exerted a negative influence on stock market functioning over the short and medium term.Further, it appears that stock markets in countries with mass privatization were initially perceived as mere byproducts of the privatization process.Such stock markets typically not only failed in their core mission of providing capital for the corporate sector, but generated negative investor sentiment and did little to catalyze economic growth.

Angaben zum Objekt

• Sprache: Englisch
• ISBN: 952-462-836-8

Verweise und Beziehungen

• Erschienen in: Series: BOFIT Discussion Papers ; No. 14/2006

Klassifikation und Themen

• Klassifikation: Wirtschaft ; International Financial Markets ; Financial Institutions and Services: Government Policy and Regulation ; Socialist Institutions and Their Transitions: Financial Economics
• Thema: privatization ; mass privatization ; emerging stock markets ; stock market

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Fungáčová, Zuzana ; Hanousek, Jan
• Ereignis: Veröffentlichung
• (wer): Bank of Finland, Institute for Economies in Transition (BOFIT)
• (wo): Helsinki
• (wann): 2006

Weitere Informationen

• Handle: http://hdl.handle.net/10419/212586
• Letzte Aktualisierung: 20.09.2024, 08:22 MESZ