DETERMINANTS OF PRIVATIZATION REVENUES IN EAST EUROPEAN AND CENTRAL ASIAN ELECTRICITY RESTRUCTURING

摘要

Since the end of Communist regimes in Eastern Europe and Central Asia at the beginning of the 1990s, free-market oriented governments in 15 countries have launched the privatization of formerly state-owned power plants or distribution utilities. This analysis compares the receipts from privatizations in a unique dataset of around 80 individual privatizations in the region and attempts to explain the variance between the revenues by firm-specific, country-specific, investor-related and auction-related parameters.