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Privatization in Austria: Some theoretical reasons and performance measures

Schneider, Friedrich; Belke, Ansgar - 2004

The issues of privatization (and sometimes deregulation) have been reviewed in a large literature on the various … aspects of privatization, that has emphasized the potential efficiency gains. Hence, we provide some theoretical reasoning why … privatization is useful as well as profitable for an economy and empirically present the extent of privatization in Austria and …

Persistent link: https://www.econbiz.de/10010294495

Privatisation and renationalisation: What went wrong in Bolivia's water sector?

Hailu, Degol; Osório, Rafael Guerreiro; Tsukada, Raquel - 2009

This paper investigates the concentration of access to safe water across income levels in Bolivia. In particular, it focuses on how privatisation has changed coverage, affordability and the concentration of access to water on the part of the poor. We compare the performance of cities in which...

Persistent link: https://www.econbiz.de/10010293309

The different extent of privatisation proceeds in EU countries: A preliminary explanation using a public choice approach

Belke, Ansgar; Baumgärtner, Frank; Schneider, Friedrich G. - 2006

This paper empirically investigates the differences in the motives of raising privatisation proceeds for a panel of EU countries from 1990 to 2000. More specifically, we test whether privatisations can be mainly interpreted (a) as ingredients of a larger reform package of economic liberalisation...

Persistent link: https://www.econbiz.de/10010294505

Is Privatization Enough? Finding Performance Breaks for UK Power Plants

Triebs, Thomas P.; Pollitt, Michael G. - Judge Business School <Cambridge> - 2010

The literature shows that for most UK industries privatization might be necessary but is not sufficient to produce … than privatization itself. We ask what changes around privatization had the greatest impact on efficiency for UK … electricity generators. We analyse the effects of privatization and other changes in incentives on plant efficiency using a newly …

Persistent link: https://www.econbiz.de/10009354096

Ownership and Production Costs - Choosing Between Public Production and Contracting Out

Ohlsson, Henry - 1998

Many comparisons of the performance of public and private producers use a public/private ownership dummy variable to capture cost differences in cross section data. This is appropriate if the producer choice is random. The dummy variable model is, however, logically inconsistent if the producer...

Persistent link: https://www.econbiz.de/10010321722

Outsourcing Public Services: Contractibility, Cost, and Quality

Andersson, Fredrik; Jordahl, Henrik; Josephson, Jens - 2019

We review the literature on public sector outsourcing to explore if the theoretical predictions from the incomplete contracts literature hold up to recent empirical evidence. Guided by theory, we arrange services according to the type and magnitude of their contractibility problems. The...

Persistent link: https://www.econbiz.de/10012654446

Long Memory in the Ukrainian Stock Market and Financial Crises

Caporale, Guglielmo Maria - 2014

This paper examines persistence in the Ukrainian stock market during the recent financial crisis. Using two different long memory approaches (R/S analysis and fractional integration) we show that this market is inefficient and the degree of persistence is not the same in different stages of the...

Persistent link: https://www.econbiz.de/10013046301

Testing for Predictability in a Noninvertible ARMA Model

Lanne, Markku; Meitz, Mika; Saikkonen, Pentti - 2012

We develop likelihood-based tests for autocorrelation and predictability in a first order non-Gaussian and noninvertible ARMA model. Tests based on a special case of the general model, referred to as an all-pass model, are also obtained. Data generated by an all-pass process are uncorrelated...

Persistent link: https://www.econbiz.de/10010500219

Asset-pricing models and economic risk premia: A decomposition

Balduzzi, Pierluigi; Robotti, Cesare; Balduzzi, Pierluigi; … - 2005

The risk premia assigned to economic (nontraded) risk factors can be decomposed into three parts: (i) the risk premia on maximum-correlation portfolios mimicking the factors; (ii) (minus) the covariance between the nontraded components of the candidate pricing kernel of a given model and the...

Persistent link: https://www.econbiz.de/10010397680

Leverage and beliefs: Personal experience and risk taking in margin lending

Koudijs, Peter; Voth, Hans-Joachim - 2014

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndicate speculating in Amsterdam in 1772 went...

Persistent link: https://www.econbiz.de/10011282480

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