This paper provides an empirical analysis of the role of political institutions in privatization. The empirical testing … we show the likelihood and the extent of privatization to be strongly and positively associated with majoritarian … political systems. On the contrary, in consensual democracies privatization seems delayed by a war of attrition among different …

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 …

through 2000. We find that governments do not relinquish control after privatization. We show that the market-to-book ratios …

We analyze when, and to a lesser extent how, privatization occurred in a group of thirty-five low or middle … primary determinant of privatization policies. Privatization is a means to an end, of course, rather than an end in itself …. But we proceed under the assumption that policymakers have decided, for whatever reason, that privatization is a desirable …

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. …

In 1997, France Telecom, the state-owned French telephone company, went through a partial privatization. We adapt a …