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: In Romania, as in many Central and Eastern Europe countries, during the communist regime all the banks were owned by the state and their activities were circumscribed by rigid norms. After the communist regime had fallen, the state owned banks had to adapt to a competitive environment. The...
Persistent link: https://www.econbiz.de/10011109368
as follows. Given that one of the tax regimes is predetermined, privatization never improves welfare and privatization is … by the government, privatization is preferable from the viewpoint of social welfare if the government heavily emphasizes … government never has the incentive for privatization if the government considers either tax as an option. …
Persistent link: https://www.econbiz.de/10011109745
simple privatization of companies. This leaves room for exploration and implementation of policies that might reconcile State …
Persistent link: https://www.econbiz.de/10011110509
The concept of privatization has been deepened due to the liberalization progress in the world economy since the … resolutions, after the collapsing of socialist regimes in the Eastern Block. Needless to say thai, the concept of privatization in … public bank privatization trends by focusing on to the privatization conception. As a final point, the public bgnks …
Persistent link: https://www.econbiz.de/10011267845
We study the effect of state ownership on the market-to-book ratios of publicly traded European utilities observed from 1994 to 2005. We find that when the company is subject to independent regulation, state ownership is positively associated with firm value. This effect is strong and...
Persistent link: https://www.econbiz.de/10011112859
This study investigates social welfare and privatization depending on the government's preference for tax revenues and … equilibrium. Moreover, if the government's preference for tax revenues is sufficiently large, the privatization of the public firm … privatization between the public firm and the government. …
Persistent link: https://www.econbiz.de/10005103417
This essay deals with the issues of privatisation and restructuring in transition economies. The topics are addressed in both a descriptive and empirical manner. The centre of the analysis is the interrelation of privatisation, the resulting ownership form and the expected and actual effect on...
Persistent link: https://www.econbiz.de/10005626876
This paper yields a rationale for why subsidized public banks may be desirable from a regional perspective in a financially integrated economy. We present a model with credit rationing and heterogeneous regions in which public banks prevent a capital drain from poorer to richer regions by...
Persistent link: https://www.econbiz.de/10005614486
In debates over privatization and global competition mixed Cournot oligopoly models have been used to show that the … privatization even if the public firm is just as efficient as its private counterparts. This study argues that this result is valid …
Persistent link: https://www.econbiz.de/10005836842
International organizations promote privatization as precondition for economic development. But is there really too … little privatization? This political economy model asks for the incentives of governments to privatize or restructure a state …-owned firm. Different government types are compared to identify the political and institutional determinants of privatization …
Persistent link: https://www.econbiz.de/10005187345