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Voucher privatization
 
 
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Voucher privatization is a privatization
Privatization

Privatization is the incidence or process of transferring ownership of business from the public sector to the private sector . In a broader sense, privatization refers to transfer of any government function to the private sector including governmental functions like revenue collection and law enforcement....
 method where citizens are given or can inexpensively buy a book of voucher
Voucher

A voucher is a bond which is worth a certain money and which may only be spent for specific reasons or on specific goods. Examples include ? but are not limited to ? housing, travel and food vouchers....
s that represent potential shares in any state-owned company. Voucher privatization has mainly been used in the early-to-mid 1990s in the transition economies
Transition economy

A transition economy or transitional economy is an economy which is changing from a planned economy to a free market. Transition economies undergo economic liberalization , macroeconomic stabilization where immediate high inflation is brought under control, and restructuring and privatization in order to create a financial sector and mo...
 of Central and Eastern Europe - countries such as Russia
Russia

Russia , or the Russian Federation , is a list of countries spanning more than one continent country extending over much of northern Eurasia....
, Poland
Poland

Poland , officially the Republic of Poland , is a country in Central Europe. Poland is bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian Enclave and exclave, to the north....
, Slovenia
Slovenia

Slovenia , officially the Republic of Slovenia , is a country in southern Central Europe bordering Italy to the west, the Adriatic Sea to the southwest, Croatia to the south and east, Hungary to the northeast, and Austria to the north....
 and Czechoslovakia
Czechoslovakia

Czechoslovakia was a sovereign state in Central Europe that existed from October 1918 until 1992 . On January 1, 1993, Czechoslovakia dissolution of Czechoslovakia into the Czech Republic and Slovakia....
.

A way in which vouchers are used for partial privatization is when the government requires taxpayers to pay for a service whether they use it or not, and allows them to choose their service provider.






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Encyclopedia


Voucher privatization is a privatization
Privatization

Privatization is the incidence or process of transferring ownership of business from the public sector to the private sector . In a broader sense, privatization refers to transfer of any government function to the private sector including governmental functions like revenue collection and law enforcement....
 method where citizens are given or can inexpensively buy a book of voucher
Voucher

A voucher is a bond which is worth a certain money and which may only be spent for specific reasons or on specific goods. Examples include ? but are not limited to ? housing, travel and food vouchers....
s that represent potential shares in any state-owned company. Voucher privatization has mainly been used in the early-to-mid 1990s in the transition economies
Transition economy

A transition economy or transitional economy is an economy which is changing from a planned economy to a free market. Transition economies undergo economic liberalization , macroeconomic stabilization where immediate high inflation is brought under control, and restructuring and privatization in order to create a financial sector and mo...
 of Central and Eastern Europe - countries such as Russia
Russia

Russia , or the Russian Federation , is a list of countries spanning more than one continent country extending over much of northern Eurasia....
, Poland
Poland

Poland , officially the Republic of Poland , is a country in Central Europe. Poland is bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian Enclave and exclave, to the north....
, Slovenia
Slovenia

Slovenia , officially the Republic of Slovenia , is a country in southern Central Europe bordering Italy to the west, the Adriatic Sea to the southwest, Croatia to the south and east, Hungary to the northeast, and Austria to the north....
 and Czechoslovakia
Czechoslovakia

Czechoslovakia was a sovereign state in Central Europe that existed from October 1918 until 1992 . On January 1, 1993, Czechoslovakia dissolution of Czechoslovakia into the Czech Republic and Slovakia....
.

A way in which vouchers are used for partial privatization is when the government requires taxpayers to pay for a service whether they use it or not, and allows them to choose their service provider. Each citizen is given vouchers allowing them to use that service (or a certain amount of it) at government expense. Examples include education voucher
Education voucher

A school voucher, also called an education voucher, is a certificate issued by the government by which parents can pay for the education of their children at a School choice, rather than the public school to which they are assigned....
s and shadow tolling. A disadvantage of this type of system, relative to full privatization, is that there is no incentive for citizens to seek to reduce the cost of the service they use below the voucher amount.

See also

  • Viktor Kožený
    Viktor Kožený

    Viktor Ko?en? is a Czech-born fugitive financier. He graduated from Harvard in 1989 with a bachelor's degree in economics. Viktor Ko?en? is officially an Republic of Ireland citizen imprisoned in the Bahamas in 2005 but released in 2007....
  • History of post-Soviet Russia
    History of post-Soviet Russia

    File:Life expectancy in russia.jpgWith the History of the Soviet Union in December 1991, the Russia became an independent country. Russia was the largest of the fifteen republics that made up the Soviet Union, accounting for over 60% of the Gross domestic product and over half of the Soviet population....
  • Privatization in Russia
    Privatization in Russia

    Russian privatization was the reform consisting in privatization of state-owned industrial assets that took place in Russia in the 1990s, during the presidency of Boris Yeltsin, immediately after the collapse of the Soviet Union of the Soviet Union, where private property of enterprises had been illegal for a long time....

External links

  • David Ellerman, , The Capital Ownership Group (virtual think tank).