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 …

We show that privatization can be beneficial even if the government is rational and benevolent, and if the firm …, privatization is strictly preferable if the firm's future survival does not crucially depend on the success of managerial effort. …

with increasing returns to scale. We show that privatization is preferred to regulation for intermediate values of the … privatization is likely to disappear once the product market allows the entry of more than one firm.In this paper, we study the … show that privatization is preferred to regulation for intermediate values of the shadow cost of public funds (i.e., the …