In the transition from a command, to a market economy, poorly defined property rights cause two problems: inefficient structures of control rights over assets, and, poor contract enforcement. The note explores three alternative strategies, as shown in Russia, for establishing property rights in transition economies: giving equity to the bureaucrats; reforming the civil service; and, politically removing bureaucratic control rights (privatization)...
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INFORMATION
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1994/08/31
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Fiche
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21683
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1
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1
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2001/03/01
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Disclosed
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Property rights matter
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property right
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