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Privatization in Russia: some micro-evidence based on housing markets

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Abstract:

Examines the importance of the role of economic incentives in privatization using data collected at the micro level from auctions of state-owned apartments in Moscow. Describes the nature of the auctions, the data collected and the estimated hedonic price functions. Concludes that the auction prices are very well explained by economic factors, particularly after the price liberalization that happened in 1992.

Keywords: Auctions; Incentives; Privatization; Property Markets; Russia

Document Type: Research Article

DOI: https://doi.org/10.1108/03068299810193650

Publication date: 1998-02-01

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