Biais, Bruno; Perotti, Enrico C - C.E.P.R. Discussion Papers - 1998
We analyse politically motivated privatization design in a bipartisan environment where politicians lack commitment … power. Suppose the median class voters a priori favour redistributive policies. If the privatization programme succeeds in …, the larger the necessary underpricing. When inequalities are large this leads to voucher privatization. Shifting the …