Voucher-financed privatisation: lessons from the Armenian experience. (24th August 2007)

• Record Type: Journal Article
• Authors: Scannell, Nancy J.; Newton, Judy
• Is Part Of: Global business & economics review. Volume 6:Number 2(2004)
• Page Start: 280
• Page End: 302
• Publication Date: 2007-08-24
• Subjects: voucher-financed privatisation -- Armenia -- voucher valuation fluctuations -- black-market activity -- foreign direct investment -- FDI -- privatisation policy; Economics -- Periodicals; International economic relations -- Periodicals; 330.5
• Languages: English
• ISSNs: 1097-4954

Abstract

This paper delineates lesser-known and arguably less attractive dimensions germane to Armenia's voucher-financed privatisation strategy initiated in the early 1990s. Issues inspected include voucher valuation fluctuations, black-market activity and foreign direct investment implications. As privatisation policy initiatives command modem-day worldwide attention, the historical insights garnered from Armenia's experience as illuminated in this paper have sustained value in yet a more contemporary setting. As to whether or not Armenia's voucher-financed privatisation scheme as implemented by the Government of the Republic of Armenia was successful, the jury, in many respects, is still out.