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IB200_11_Wk2_-_Privatization_and_Fairtrade

IB200_11_Wk2_-_Privatization_and_Fairtrade - IB 200...

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IB 200 Discussion Section Week 2 15th/16th Sept 2011
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First things first…… Homework due in class today i.e. Sept. 15th 2011. Write your name and discussion section number on top of the page.
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Agenda for Today Privatization Fairtrade
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Privatization Chicken and egg scenario: In order to have effective privatization, you need some of the foundations of market- based systems: Regulated financial markets and institutions A public that understands private ownership, has some financial literacy and faith in the new institutions
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Facets of privatization Legal Deregulation Growth of legal frameworks, protections and institutions Divesture from state. How? Sales Auctions IPOs
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Example: Russia Three-pronged strategy of liberalization, privatization and stabilization began in early 1990’s, shortly after collapse of the Soviet Union No one had any idea what “prices” for anything should be Citizens given vouchers worth 10,000 rubles that could purchase shares in corporations created from state divestures Limited verifiable financial data, etc.
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