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Regulatory agencies : impact on firm performance and social welfare

Estache, Antonio; Rossi, Martin A. - Economics Research, World Bank Group - 2008

The authors explore the relation between the establishment of a regulatory agency and the performance of the electricity sector. The authors exploit a unique dataset comprising firm-level information on a representative sample of 220 electric utilities from 51 development and transition...

Persistent link: https://www.econbiz.de/10005116700

Effects of privatization and ownership in transition economies

Estrin, Saul; Hanousek, Jan; Kocenda, Evzen; Svejnar, Jan - Economics Research, World Bank Group - 2009

The paper evaluates the effects of privatization in the post-communist economies and China. In post-communist economies … privatization to foreign owners results in a rapid improvement in performance of firms, while performance effects of privatization … development. In China relatively more estimates suggest that privatization to domestic owners improves the level of performance …

Persistent link: https://www.econbiz.de/10005133735

The impact of Czech mass privatisation on corporate governance

Hanousek, Jan; Kocenda, Evžen - In: Journal of Economic Studies 30 (2003) September, pp. 278-293

This paper discusses the privatisation process in the Czech Republic and its influence on corporate governance. While in 1989 the private sector totalled less than 1 per cent of the GDP, at the end of 1996 more than 70 per cent of the GDP was produced by the private sector. Large-scale...

Persistent link: https://www.econbiz.de/10005009731

Learning by Bidding: Evidence from a Large-Scale Natural Experiment

Hanousek, Jan; Kocenda, Evzen - Center for Economic Research and Graduate Education and … - 2005

Learning is a subject of intense research in experimental economics. We contribute to this debate by presenting persuasive evidence that learning took place among uninformed heterogeneous agents on a quasi-stock market during a large-scale natural experiment that by size, incentives, and...

Persistent link: https://www.econbiz.de/10005146552

Privatization and Regulatory Reform in Brazil: The Case of Freight Railways

Estache, Antonio; Goldstein, Andrea; Pittman, Russell - EconWPA - 2001

A variety of proposals for creating more competition within the railroad sector and in the broader freight transport sector are under consideration in countries throughout the world. Brazil, though something of a latecomer to wider infrastructure reform, has recently taken large steps in...

Persistent link: https://www.econbiz.de/10005556074

Lange and Hayek Revisited: Lessons from Czech Voucher Privatization

Hanousek, Jan; Filer, Randall K. - EconWPA - 2001

involved in the Czech voucher privatization process to test whether a sequential process of trial-and-error can set …

Persistent link: https://www.econbiz.de/10005407695

Electricity Reforms in Mali: A Macro–Micro Analysis of the Effects on Poverty and Distribution

Boccanfuso, Dorothée; Estache, Antonio; Savard, Luc - Département d'économique, Faculté d'administration - 2007

This paper uses a computable general equilibrium (CGE) microsimulation model to explore the distributional and poverty-related effects of price reform in the electricity sector of Mali, a poor country in West Africa. In the first part of the paper we analyze the distribution of electricity in...

Persistent link: https://www.econbiz.de/10005467340

Ownership, Control and Corporate Performance after Large-Scale Privatization

Hanousek, Jan; Kocenda, Evzen; Svejnar, Jan - EconWPA - 2004

-scale privatization economy. Using specifications based on first-differences and unique instrumental variables, we find that few types of … private ownership improve dynamic post-privatization performance. Concentrated foreign (but not domestic) ownership improves …

Persistent link: https://www.econbiz.de/10005135012

Divestitures, privatization and corporate performance in emerging markets

Hanousek, Jan; Kočenda, Evžen; Svejnar, Jan - 2009

We use new firm-level data to examine the effects of firm divestitures and privatization on corporate performance in a …'s profitability but do not alter its scale of operations, while the effect of privatization depends on the resulting ownership … structure – sometimes improving performance and sometimes bringing about decline. The effects of privatization are thus more …

Persistent link: https://www.econbiz.de/10009477561

Existence of the learning process at a proxy stock market

Kočenda, Evžen; Hanousek, Jan - In: Politická ekonomie 2007 (2007) 3

Learning is a subject of intense research in economics. We present persuasive evidence that learning took place among uninformed heterogeneous agents during a large-scale naturally-occurring set of auctions. Empirical study employs a unique bidding data set of 5000 individual investors that...

Persistent link: https://www.econbiz.de/10005258221