Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/212586
Authors: 
Fungáčová, Zuzana
Hanousek, Jan
Year of Publication: 
2006
Series/Report no.: 
BOFIT Discussion Papers No. 14/2006
Abstract: 
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.
Subjects: 
privatization
mass privatization
emerging stock markets
stock market
JEL: 
G15
G28
P34
Persistent Identifier of the first edition: 
ISBN: 
952-462-836-8
Document Type: 
Working Paper

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