contracts literature hold up to recent empirical evidence. Guided by theory, we arrange services according to the type and …

In this paper, we study the effect of share issue privatization (SIP) on private investment and financial market under … privatization (crowding-out effect). Vice-versa with risk aversion and perfect intertemporal substitutability (diversification … of the crowding-out effect, when the revenues of privatization are devoted to present public consumption. …

Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is …

" theory (Drèze and Stern, 1990). By adopting this perspective, the change in consumers' welfare "with" and "without …

This paper evaluates the impact of privatization on the development of capital markets in a two-country general … systems) and voucher privatizations (in transition economies). It is shown how these two privatization methods can have an … international asset allocation strategies. We show that even a non-marketed privatization (free distribution of public assets to …