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

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. …

productivity. This paper is part of a smaller literature on the effects of training on direct measures of industrial productivity …. We analyse a panel of British industries between 1983 and 1996. Training information (and other individual productivity … use a variety of panel data techniques (including system GMM) to argue that training significantly boosts productivity …

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 …

impact on investment returns. We argue that a sustained privatization or liberalization program represents a major test of … privatization gradually leads to increased confidence. Moreover, increased confidence has a strong effect on local market … of policy risk resulting from successful privatization has been an important source for the broadening and deepening of …