FEEM working papers "Note di lavoro" series
2001 .077

Privatisation Around the World: New Evidence from Panel Data


Authors: Domenico Siniscalco, Bernardo Bortolotti, Marcella Fantini
Series: Economy and Society
Editor: Fausto Panunzi
Type: Journal
Keywords: Privatisation,public finance,political economy,law and finance,capital markets
JEL n.: L33,D72,G15,H6,K22
JEL: Journal of Public Economics
Pages: Vol. 88, No. 1-2, pp. 305-332
Date: 01/2004

Abstract

This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and is affected by the governing political majority and public sector budget constraints. But the extent of privatisation in terms of revenues and stakes sold appears more limited in civil law countries, where shareholders are poorly protected, banks powerful, and capital markets less developed.

Download file
Download PDF file

FEEM Newsletter

Subscribe to stay connected.

Your personal data will be processed by Fondazione Eni Enrico Mattei. – data Controller – with the aim of emailing the FEEM newsletter. The use of Your email address is necessary for the implementation of the newsletter service. You are invited to read the Privacy Policy in order to obtain additional information about the protection of Your rights.

This Website uses technical cookies and cookie analytics, as well as “third party” profiling cookies.
If you close this banner or you decide to continue navigating on this Website, you express consent to the use of cookies. If you need additional information or you wish to express selective choices on the use of cookies, please refer to the   Cookie PolicyI agree