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liberalization and their privatization which can be complete or partial such that upstream production is still run by an SOE. We show … in most cases even if a holdup problem exists. For any vertically separated structure we find that privatization through … multi-product firms welfare dominates privatization through single-product firms. …
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was largely abandoned by the IFIs and privatization and private participation in infrastructure, or PPI became the order …
Persistent link: https://www.econbiz.de/10010312321
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
Using data on 451 Chinese privatizations over the period 1994-2002, this paper empirically investigates the firm and stock market characteristics that detfirmine the size of the portion of new shares sold to the general public and underpricing at SIP-time. We find that poor perfirmance and...
Persistent link: https://www.econbiz.de/10010313366
economic policies: The reform process included not only financial liberalization and trade reforms, but also the privatization … advocated privatization as a "must" policy tool. The paper explores the effects of privatization on regional growth of Turkish … or substitute of the private sector. The findings show that privatization has no perverse effects on the development of …
Persistent link: https://www.econbiz.de/10010320586
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade …
Persistent link: https://www.econbiz.de/10010265983
transition economies to estimate the impacts of privatization on employment and wages. The results in all four countries … consistently reject job losses and they never imply large wage cuts from privatization to either foreign or domestic owners. The … domestic privatization estimates are close to zero for employment, while for wages they are negative but small in magnitude …
Persistent link: https://www.econbiz.de/10010268760