Ukrainian Academy of Banking of the National Bank of Ukraine
Abstract
Contrary to public perceptions and despite the worldwide success of state
privatizations, over the past decade governments have acquired more assets
through stock purchases (US969billion)thantheyhavesoldthroughshareissueprivatizationsanddirectsales(US 765 billion). In fact, governments and stateowned
entities have been such active stock-market investors that they now own
approximately one-fifth of global stock-market capitalization