Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.1893201
Privatisation of socially owned enterprises, the methods used and the impact on economic growth: empirical evidence from Kosovo
Ujkan Q. Bajra
Armand Krasniqi
Armend Podvorica
Sažetak
Privatisation together with the related social consequences and
impact on the economy represent key challenges facing the former communist countries. This paper aims to assess how the privatisation of socially owned enterprises (SOEs) affects economic
growth, entailing an empirical test using a panel effects regression
analysis on a sample of 571 SOEs (or 1,600 assets) over a 16-year
period (2003–2018). We find that privatisation at the aggregate
level does not boost economic growth; in particular, the methods
used to privatise SOEs or parts of them are not a determining factor. We also show that the quality of institutions is fragile, confirming a negative associations with economic growth. We also show
that the effects of privatisation vary according to the method
used, although we note that the sale of SOEs or parts thereof in
the first decade of privatisation has been quite selective, devoid of
development effects and faced with serious impediments to privatisation funds being directly invested in the economy
Ključne riječi
Socially owned enterprises; privatisation; special spin off; ordinary spin off; liquidation; economic growth
Hrčak ID:
301834
URI
Datum izdavanja:
31.3.2023.
Posjeta: 169 *