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The Economics of Politically Connected Firms

Choi, Jay Pil; Thum, Marcel - CESifo - 2007

Political connections between firms and autocratic regimes are not secret and often even publicly displayed in many developing economies. We argue that tying a firm’s available rent to a regime’s survival acts as a credible commitment forcing entrepreneurs to support the government and to...

Persistent link: https://www.econbiz.de/10005094287

Political Institutions and Government Spending Behavior in Iran

Dizaji, Sajjad Faraji; Farzanegan, Mohammad Reza - CESifo - 2014

development of government spending in major sections shapes the political institutions in Iran. This question has become … especially important due to recent international sanctions, aiming to change the political behavior of Iran. We use the impulse … annual data from 1960 to 2006. Our results show the importance of political institutions in patronage and public goods …

Persistent link: https://www.econbiz.de/10010739347

Direct Distribution of Rents and the Resource Curse in Iran: A Micro-econometric Analysis

Farzanegan, Mohammad Reza; Habibpour, Mohammad - CESifo - 2014

subsequent taxation in Iran. We use rich micro survey data covering more than 36,000 Iranian households in 2009. Our micro …

Persistent link: https://www.econbiz.de/10010781552

Illegal Trade in the Iranian Economy: Evidence from a Structural Model

Farzanegan, Mohammad Reza - CESifo - 2008

index of smuggling in Iran from 1970 to 2002. The Multiple Indicators - Multiple Causes (MIMIC) econometric modelling is … incentives for illegal trade. More trade openness accompanies more illegal trade for the case of Iran. On average, the relative … size of smuggling is about 13% of the total trade in Iran. The absolute amount of smuggling per year is about $3 billion. …

Persistent link: https://www.econbiz.de/10005181341

Debt Financing and Sharp Currency Depreciations: Wholly vs. Partially Owned Multinational Affiliates

Hebous, Shafik; Weichenrieder, Alfons - CESifo - 2009

This paper provides empirical evidence on two potential costs of shared ownership of German affiliates abroad. First, in periods of currency crises, wholly-owned affiliates, in contrast to partially-owned affiliates, seem to circumvent financial constraints by accessing capital from their parent...

Persistent link: https://www.econbiz.de/10008572531

Ownership Concentration and Share Valuation: Evidence from Germany

Edwards, Jeremy; Weichenrieder, Alfons - CESifo - 1999

Concentrated ownership of large listed companies is widespread throughout the world, and Germany is typical in this respect. This paper proposes a method of distinguishing empirically between the beneficial and harmful effects of ownership concentration, and applies it to German data. The...

Persistent link: https://www.econbiz.de/10005406388

Silent Interests and All-Pay Auctions

Konrad, Kai A. - CESifo - 2005

If firms compete in all-pay auctions with complete information, silent shareholdings introduce asymmetric externalities into the all-pay auction framework. If the strongest firm owns a large share in the second strongest firm, this may make the strongest firm abstain from bidding. As a...

Persistent link: https://www.econbiz.de/10005196292

Divide and Privatize: Firm Break-up and Performance

Kocenda, Evžen; Hanousek, Jan - CESifo - 2011

We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996–2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...

Persistent link: https://www.econbiz.de/10009024846

External Constraints Matter for Privatizations

Petrarca, Ilaria; Ricciuti, Roberto - CESifo - 2014

We present an analysis of the share of public ownership in the product market in the OECD countries from 1974 to 2007. Despite much has been said on the broad topic of reforms and regulation, a sector-specific insight is missing. We replicate the analysis of Galasso (2014) by sector of activity...

Persistent link: https://www.econbiz.de/10010948843

Government Outsourcing: Public Contracting with Private Monopoly

Auriol, Emmanuelle; Picard, Pierre M. - CESifo - 2006

The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in which firms are free to enter the market and to choose...

Persistent link: https://www.econbiz.de/10005765762