Optimal Privatization Design and Financial Markets

This paper provides a simple general equilibrium analysis of privatization, exploring its real effects. They derive from the expansion of risk-sharing opportunities (within an incomplete markets setting) that are created by the addition of a market in the public project property rights. The principal conclusion is that an optimal combination of voucher and share issue privatization can implement the first-best. Copyright 2005 Blackwell Publishing Inc..

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Year of publication:	2005
Authors:	BOSI, STEFANO ; GIRMENS, GUILLAUME ; GUILLARD, MICHEL
Published in:	Journal of Public Economic Theory. - Association for Public Economic Theory - APET, ISSN 1097-3923. - Vol. 7.2005, 5, p. 799-826
Publisher:	Association for Public Economic Theory - APET

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005305342