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Privatization and labor force restructuring around the world
Chong, Alberto; López-De-Silanes, Florencio - 2002
Critics of privatization argue that poor labor force restructuring is a key concern and that governments should … owners after privatization. Our results show that adverse selection plagues retrenchment programs carried out by governments … before privatization. Controlling for endogeneity, several labor retrenchment policies yield a negative impacton net …
Persistent link: https://www.econbiz.de/10011335776
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Postprivatization Corporate Governance: the Role of Ownership Structure and Investor Protection
Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 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/10011325056
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Abnormal Returns in Privatization Public Offerings: The Case of Portuguese Firms
Vieira, Carla; Serra, Ana Paula - 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/10010312287
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From Government to Regulatory Governance: Privatization and the Residual Role of the State
Perotti, Enrico; Bortolotti, Bernardo - 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/10010312416
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Avenues of technology transfer: Foreign investment and productivity change in the Czech Republic
Djankov, Simeon; Hoekman, Bernard Marco - 1998
Firm-level data for the Czech Republic during 1992-96 suggest that foreign investment has tended to flow to firms of above average size, initial profitability and initial labor productivity. After controlling for this selection bias, we find that foreign investment has a positive, but...
Persistent link: https://www.econbiz.de/10011608384
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The oil-based economies international research project: The case of Iran
Verdinejad, Fereydoun; Gorji, Yasaman - 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/10010272428
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Firm heterogeneity, contract enforcement, and the industry dynamics of offshoring
Ottaviano, Gianmarco I. P.; Naghavi, Alireza - 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 one....
Persistent link: https://www.econbiz.de/10010279501
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The fragility of social capital
Sabatini, Fabio; Antoci, Angelo; Sodini, Mauro - 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/10010279513
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Knowing the right person in the right place: Political connections and economic growth
Bellettini, Giorgio; Ceroni, Carlotta Berti; Prarolo, … - 2009
We develop a model of Schumpeterian growth where political connections with long-term politicians can be exploited by low-quality producers to defend their monopoly position and prevent innovation and entry of high-quality competitors. Through personal relationships developed with the incumbent...
Persistent link: https://www.econbiz.de/10010279594
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A Politico-Economic Model of Aging, Technology Adoption and Growth
Prarolo, Giovanni; Lancia, Francesco - 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/10010312332