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From Government to Regulatory Governance: Privatization and the Residual Role of the State

Perotti, Enrico; Bortolotti, Bernardo - Fondazione ENI Enrico Mattei (FEEM) - 2005

This paper reviews the state of thinking on the governance role of public ownership and control. We argue that the transfer of operational control over productive assets to the private sector represents the most desirable governance, due to the inherent difficulty for citizens to constrain...

Persistent link: https://www.econbiz.de/10005385451

Postprivatization Corporate Governance: the Role of Ownership Structure and Investor Protection

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - Fondazione ENI Enrico Mattei (FEEM) - 2003

We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...

Persistent link: https://www.econbiz.de/10005423064

Abnormal Returns in Privatization Public Offerings: The Case of Portuguese Firms

Vieira, Carla; Serra, Ana Paula - Fondazione ENI Enrico Mattei (FEEM) - 2005

This paper provides evidence on abnormal returns of Portuguese privatization public offerings for the period from 1989 … privatization transactions and investigates the determinants of the observed price behavior. Our results are not supportive of the … underpricing phenomenon except if we exclude the very extreme observations. The results show further that privatization IPOs …

Persistent link: https://www.econbiz.de/10005423242

Political Persistence, Connections and Economic Growth

Bellettini, Giorgio; Ceroni, Carlotta Berti; Prarolo, … - Fondazione ENI Enrico Mattei (FEEM) - 2009

Using data on a panel of 56 democratic countries in the period 1975-2004, we find evidence of a negative association between political stability and economic growth which is stronger and empirically more robust in countries with high bureaucratic costs. Motivated by these results, which contrast...

Persistent link: https://www.econbiz.de/10008502103

Firm Heterogeneity, Contract Enforcement, and the Industry Dynamics of Offshoring

Ottaviano, Gianmarco I.P.; Naghavi, Alireza - Fondazione ENI Enrico Mattei (FEEM) - 2009

We develop an endogenous growth model to study the long run consequences of offshoring with firm heterogeneity and incomplete contracts. In so doing, we model offshoring as the geographical fragmentation of a firm’s production chain between a home upstream division and a foreign downstream...

Persistent link: https://www.econbiz.de/10004987239

The Fragility of Social Capital

Sabatini, Fabio; Antoci, Angelo; Sodini, Mauro - Fondazione ENI Enrico Mattei (FEEM) - 2009

This paper addresses two hot topics of the contemporary debate, social capital and economic growth. Our theoretical analysis sheds light on decisive but so far neglected issues: how does social capital accumulate over time? Which is the relationship between social capital, technical progress and...

Persistent link: https://www.econbiz.de/10005008018

A Politico-Economic Model of Aging, Technology Adoption and Growth

Prarolo, Giovanni; Lancia, Francesco - Fondazione ENI Enrico Mattei (FEEM) - 2007

Over the past century, all OECD countries have been characterized by a dramatic increase in economic conditions, life expectancy and educational attainment. This paper provides a positive theory that explains how an economy might evolve when the longevity of its citizens both influences and is...

Persistent link: https://www.econbiz.de/10005570325

The Oil-Based Economies International Research Project. The Case of Iran

Verdinejad, Fereydoun; Gorji, Yasaman - Fondazione ENI Enrico Mattei (FEEM) - 2010

In order to activate the cycle of wealth production, promote social justice and eliminate poverty and inequality, developing countries are currently faced with a multiplicity of structural problems. According to some economic theories, this is mainly due to inefficient or lack of access to...

Persistent link: https://www.econbiz.de/10008465543

The Political Economy of Oil and the Crisis of the Arab State System

Atzori, Daniel - Fondazione ENI Enrico Mattei (FEEM) - 2013

This paper argues that the so-called Arab spring is part of a tectonic shift which signals the frailty of the Arab state system as such. Countries benefitting from oil and gas rents have been more resilient, because of their potential to create systems of incentives and disincentives in order to...

Persistent link: https://www.econbiz.de/10010833943

Profit Sharing under the Threat of Nationalization

Corato, Luca Di - Fondazione ENI Enrico Mattei (FEEM) - 2010

A government bargains a mutually convenient agreement with a multinational corporation to extract a natural resource. The corporation bears the initial investment and earns as a return a share on the profits. The host country provides access and guarantee conditions of operation. Being the...

Persistent link: https://www.econbiz.de/10008489589