Privatisation: Politics, institutions, and financial markets

Bernardo Bortolotti, Marcella Fantini, Domenico Siniscalco

Research output: Contribution to journalArticlepeer-review


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 languageEnglish (US)
Pages (from-to)109-137
Number of pages29
JournalEmerging Markets Review
Issue number2
StatePublished - Jun 2001


  • 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


Dive into the research topics of 'Privatisation: Politics, institutions, and financial markets'. Together they form a unique fingerprint.

Cite this