Privatisation: Politics, institutions, and financial markets

Bernardo Bortolotti; Marcella Fantini; Domenico Siniscalco

doi:10.1016/S1566-0141(01)00013-9

Privatisation: Politics, institutions, and financial markets

Bernardo Bortolotti, Marcella Fantini, Domenico Siniscalco

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

This paper presents evidence on privatisation processes in 49 countries for the period 1977-1996. The empirical analysis shows that the decision to privatise and the choice of privatisation method appear to be influenced by the governing political majority and public-sector budget constraints, while the success of privatisation in terms of revenues and stakes sold requires suitable legal institutions and developed capital markets.

Original language	English (US)
Pages (from-to)	109-137
Number of pages	29
Journal	Emerging Markets Review
Volume	2
Issue number	2
DOIs	https://doi.org/10.1016/S1566-0141(01)00013-9
State	Published - Jun 2001

Keywords

Budget deficit
Capital markets
D72
Enforcement of law
G15
H6
Investor protection
K22
L33
Politics
Privatisation

ASJC Scopus subject areas

Business and International Management
Economics and Econometrics

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10.1016/S1566-0141(01)00013-9

Cite this

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abstract = "This paper presents evidence on privatisation processes in 49 countries for the period 1977-1996. The empirical analysis shows that the decision to privatise and the choice of privatisation method appear to be influenced by the governing political majority and public-sector budget constraints, while the success of privatisation in terms of revenues and stakes sold requires suitable legal institutions and developed capital markets.",

keywords = "Budget deficit, Capital markets, D72, Enforcement of law, G15, H6, Investor protection, K22, L33, Politics, Privatisation",

author = "Bernardo Bortolotti and Marcella Fantini and Domenico Siniscalco",

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AB - This paper presents evidence on privatisation processes in 49 countries for the period 1977-1996. The empirical analysis shows that the decision to privatise and the choice of privatisation method appear to be influenced by the governing political majority and public-sector budget constraints, while the success of privatisation in terms of revenues and stakes sold requires suitable legal institutions and developed capital markets.

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KW - Capital markets

KW - D72

KW - Enforcement of law

KW - G15

KW - H6

KW - Investor protection

KW - K22

KW - L33

KW - Politics

KW - Privatisation

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Privatisation: Politics, institutions, and financial markets

Abstract

Keywords

ASJC Scopus subject areas

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