A successful reform of public enterprises would improve productivity in key sectors of the Greek economy, and thus provide essential inputs at lower cost to the economy as a whole. Reforms would need to address the factors that are responsible for the poor performance of Greek public...

"We evaluate differences in investment behavior between stock market listed and privately held firms in the U.S. using a rich new data source on private firms. Listed firms invest less and are less responsive to changes in investment opportunities compared to observably similar, matched private...

Perotti reviews the state of thinking on the governance role of state ownership. He argues that a gradual transfer of operational control and financial claims over state assets remains the most desirable goal, but it needs to be paced to avoid regulatory capture, and the capture of the...