We empirically investigate the political determinants of liberalization and privatization policies in six network industries of 30 OECD countries. We unbundle liberalization and privatization reforms and study their simultaneous determination in a two-equation model. Our findings unveil that...

In this paper we analyze the problem of the enforcement of incomplete contracts with endogenous outside options. Some of the equilibria we outline may reverse one of the main results presented in the standard literature. We then revisit the literature on the highly debated Fisher Body/General...

Previous empirical literature suggests that privatization choices are driven by ideology. However, available measures of this political bias are weakly-grounded as they neglect crucial factors affecting privatizations, such as the liberalization levels and the public finance structure. To fill...