The contractual structure and competitive process of the PPP give strong incentives for the efficient delivery of services by private sector. The apparent difference in the cost of borrowing of the public and private sectors is illusory as the public sector cost is not properly accounting for...

The present paper analyzes the top ten Italian state-owned enterprises (SOEs) over the period 2004-2013, after both their corporate organization and their markets have been deeply reformed. We question whether SOEs' strategies are more profit or public oriented. The authors find that, on...