|Philippe Aghion||Harvard||Did Not Answer||Bio/Vote History|
|Franklin Allen||Imperial College London||Agree||6||
For many but not all industries, privatization increases efficiency. I think this is true in many central and eastern European countries.
|Pol Antras||Harvard||Strongly Agree||9||Bio/Vote History|
|Richard Baldwin||The Graduate Institute Geneva||Agree||5||Bio/Vote History|
|Timothy J. Besley||LSE||Did Not Answer||Bio/Vote History|
|Olivier Blanchard||Peterson Institute||Strongly Agree||10||
This is a no brainer.
|Nicholas Bloom||Stanford||Strongly Agree||10||Bio/Vote History|
|Richard William Blundell||University College London||Agree||9||
The majority of privatisations have been carried out effectively with proper auctions and subsequent price regulation.
|Agnès Bénassy-Quéré||Paris School of Economics||Agree||8||
Only after several years of depression.
|Elena Carletti||Bocconi||Agree||7||Bio/Vote History|
|Jean-Pierre Danthine||Paris School of Economics||Strongly Agree||2||Bio/Vote History|
|Paul De Grauwe||LSE||Agree||8||Bio/Vote History|
|Jan Eeckhout||University College London||Strongly Agree||9||Bio/Vote History|
|Ernst Fehr||Universität Zurich||Strongly Agree||7||Bio/Vote History|
|Xavier Freixas||Universitat Pompeu Fabra||No Opinion||
As a non-expert I cannot answer that is related to oligarchies, corruption and the end of the cold war.
|Nicola Fuchs-Schündeln||Goethe-Universität Frankfurt||Strongly Agree||8||Bio/Vote History|
|Jordi Galí||Universitat Pompeu Fabra||Agree||6||Bio/Vote History|
|Luis Garicano||LSE||Strongly Agree||9||Bio/Vote History|
|Francesco Giavazzi||Bocconi||Strongly Agree||10||Bio/Vote History|
|Rachel Griffith||University of Manchester||Strongly Agree||9||Bio/Vote History|
|Veronica Guerrieri||Chicago Booth||Strongly Agree||10||Bio/Vote History|
|Luigi Guiso||Einaudi Institute for Economics and Finance||Strongly Agree||1||Bio/Vote History|
|Martin Hellwig||Max Planck Institute for Research on Collective Goods||Did Not Answer||Bio/Vote History|
|Patrick Honohan||Trinity College Dublin||Strongly Agree||9||
The answer would be less obvious if applied only to Western Europe
|Henrik Kleven||LSE||Agree||5||Bio/Vote History|
|Jan Pieter Krahnen||Goethe University Frankfurt||Agree||8||
While productivity has increased almost surely, production may actually have dropped significantly, as industry was largely dismantled.
|Per Krusell||Stockholm University||No Opinion||
I have no knowledge in this area.
|Botond Kőszegi||Central European University||Strongly Agree||10||Bio/Vote History|
|Eliana La Ferrara||Bocconi||Agree||3||Bio/Vote History|
|Christian Leuz||Chicago Booth||Strongly Agree||8||
During transition in those economies, we also saw productivity gains for state-owned firms but gains for privatized firms were much larger.
-see background information here
|Costas Meghir||Yale||Agree||7||Bio/Vote History|
Productivity has increased, though in Russia and other countries the distributional consequences have been regressive
|Kevin O'Rourke||Oxford||Agree||6||Bio/Vote History|
|Marco Pagano||Università di Napoli Federico II||Strongly Agree||8||Bio/Vote History|
|Lubos Pastor||Chicago Booth||Strongly Agree||10||Bio/Vote History|
|Torsten Persson||Stockholm University||Strongly Agree||8||
Even in East Germany only a few firms were viable at world-market prices at the end of communism (Akerlof et al, BPEA, 1990)
|Christopher Pissarides||LSE||Strongly Agree||8||
governments are not good at running businesses, private owners know better how to increase productivity
|Richard Portes||London Business School||Strongly Agree||10||Bio/Vote History|
|Canice Prendergast||Chicago Booth||Agree||8||Bio/Vote History|
|Lucrezia Reichlin||London Business School||Uncertain||3||Bio/Vote History|
|Rafael Repullo||CEMFI||No Opinion||Bio/Vote History|
|Hélène Rey||London Business School||Agree||6||Bio/Vote History|
|Antoinette Schoar||MIT||Strongly Agree||9||Bio/Vote History|
|John Van Reenen||MIT||Agree||7||Bio/Vote History|
|John Vickers||Oxford||Strongly Agree||7||
Gains have come from pro-market reforms more generally, but privatization was a pre-condition.
|Hans-Joachim Voth||University of Zurich||Strongly Agree||9||Bio/Vote History|
|Beatrice Weder di Mauro||Gutenberg University Mainz and INSEAD||Agree||6||Bio/Vote History|
|Karl Whelan||University College Dublin||Agree||4||
Agree but moving from state-sponsored monopolies to badly-regulated private sector monopolies does not do much for the average consumer.
|Charles Wyplosz||The Graduate Institute Geneva||Strongly Agree||9||
With rare exceptions, firms were highly inefficient beforehand. In some countries, private firms remain uncompetitive because of corruption.
|Fabrizio Zilibotti||Universität Zurich||Strongly Agree||9||Bio/Vote History|
This panel explores the views of European economists on vital public policy issues. It does this by polling them on important policy questions, by including a way for them to explain their answers briefly if they wish, and by disseminating these responses directly to the public in a simple format.
To that end, our panel was chosen to include distinguished experts with a keen interest in public policy from the main areas of economics, to be geographically diverse, and to include older and younger scholars. As with the IGM’s US panel, the experts are all outstanding researchers in their fields. The panel includes recipients of top national and international prizes in economics, fellows of the Econometric society and the European Economic Association, members of distinguished national and international policymaking bodies in Europe, recipients of significant grants for economic research, highly accomplished affiliates and program directors of the Centre for Economic Policy Research and the National Bureau of Economic Research, and past and current editors of leading academic journals in the profession. This approach not only provides a set of panelists whose names will be familiar to other economists and the media, but also delivers a group with impeccable qualifications to speak on public policy matters in Europe and beyond.
Questions for the European IGM Economic Experts Panel are emailed individually to all members of the panel. They are phrased as statements with which one can agree or disagree. The experts are also asked how confident they are in their knowledge of the issue associated with the question (10 being highest). Each panelist responds electronically at his or her convenience. Panelists may consult whatever resources they like before answering. They may also include brief comments with their responses, or provide links to relevant sources.
It is important to explain one aspect of our voting process. In some instances a panelist may neither agree nor disagree with a statement, and there can be two very different reasons for this. One case occurs when an economist knows a lot about a topic and yet sees the evidence on the exact claim at hand as ambiguous. In such cases our panelists vote "uncertain". A second case relates to statements on topics so far removed from the economist's knowledge that he or she does not feel well placed to judge. In this case, our panelists vote "no opinion".
Panelists suggest many of the questions themselves. Members of the public are also welcome to suggest questions (see link below). Although IGM faculty members are responsible for deciding the final version of each question, we send a draft of the question to the panel in advance and invite them to point out problems with the wording if they see any. This process helps us to reduce vagueness or problems of interpretation.
The panel data are copyrighted by the Initiative on Global Markets and will be analyzed for an article to appear in a peer-reviewed journal.