Privatisation around the world: Evidence from panel data

Journal of Public Economics

Volumn 88, Issue 1-2, 2004, Pages 305-332

  Bortolotti, Bernardo ^a   Fantini, Marcella ^b   Siniscalco, Domenico ^c  

^a UNIVERSITY OF TURIN   (Italy)

^b National Economic Res Associates   (Italy)

^c FONDAZIONE ENI ENRICO MATTEI   (Italy)

Author keywords

Capital markets; Law and finance; Political economy; Privatisation; Public finance

Indexed keywords

EID: 0142023937     PISSN: 00472727     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0047-2727(02)00161-5     Document Type: Article

References (34)

1. Amihud Y. Illiquidity and Stock Returns: Cross-Section and Time-Series Effect 2000 Stern Business School, NYU New York
2. Aron R. Alternation in government in industrialised countries Government and Opposition 17 1982 3-21
3. Baltagi B. Econometric Analysis of Panel Data 1995 Wiley New York
4. Banks A.S. Day A.J. Mueller T.C. (Eds.), The Political Handbook of the World 1997 CSA Publications Binghamton
5. Beck T. Demirgüç-Kunt A. Levine R. 1999 A New Database on Financial Development and Structure, World Bank Policy Research Working Paper n. 2146.
6. Biais B. Perotti E. Machiavellian privatization American Economic Review 92 2002 240-258
7. Bortolotti B. Fantini M. Siniscalco D. Privatisation: politics, institutions, and financial markets Emerging Markets Review 2 2001 109-137
8. Dewenter K. Malatesta P.H. Public offerings of state-owned and privately-owned enterprises: an international comparison Journal of Finance 52 1997 1659-1679
9. Dewenter K. Malatesta P.H. State-owned and privately-owned firms: an empirical analysis of profitability, leverage, and labor intensity American Economic Review 91 2001 320-334
10. D'Souza J. Megginson W.L. The financial and operating performance of privatized firms during the 1990s Journal of Finance 54 2000 1436
11. Faure-Grimaud A. 1999 Using Stock Price Information to Regulate Firms, LSE. Mimeo.
12. Graham C. Prosser T. Privatizing Public Enterprises 1991 Clarendon Press Oxford
13. Grossman S. On the efficiency of competitive stock markets where traders have diverse information Journal of Finance 31 1976 573-585
14. Guislain P. The Privatization Challenge 1997 The World Bank Washington, DC
15. Hausman A. Specification tests in econometrics Econometrica 46 1978 1251-1271
16. Hsiao C. Analysis of Panel Data 1986 Cambridge University Press Cambridge
17. Hölmstrom B. Tirole J. Market liquidity and performance monitoring Journal of Political Economy 101 1993 678-709
18. Jensen M. Meckling W.R. Theory of the firm: managerial behaviour, agency costs, and ownership structure Journal of Financial Economics 3 1976 305-360
19. Jones S. Megginson W.L. Nash R. Netter J. Share issue privatizations as financial means to political and economic ends Journal of Financial Economics 53 1999 217-253
20. Kikeri S. Nellis J. Shirley M. Privatization: the Lessons of Experience 1992 World Bank Washington, DC
21. La Porta R. López-de-Silanes F. Shleifer A. Vishny R.W. Legal determinants of external finance Journal of Finance 52 1997 1131-1150
22. La Porta R. López-de-Silanes F. Shleifer A. Vishny R.W. Law and finance Journal of Political Economy 106 1998 1113-1155
23. La Porta R. López-de-Silanes F. Shleifer A. Vishny R.W. The quality of government Journal of Law, Economics, and Organization 15 1999 222-279
24. La Porta R. López-de-Silanes F. Shleifer A. 2001 Government Ownership of Commercial Banks. Mimeo.
25. Megginson W.L. Boutchkova M.K. 2000 Privatization and the Rise of Global Capital Markets. Financial Management, pp. 31-76.
26. Megginson W.L. Netter J. From state to market: a survey of empirical studies on privatization Jounal of Economic Literature 39 2001 321-389
27. Megginson W.L. Nash R.C. Netter J.M. Poulsen A.B. 2000 The Choice Between Private and Public Markets: Evidence from Privatizations. Working paper, Athens, University of Georgia.
28. Ministero del Tesoro, La Relazione sulle Privatizzazioni, Rapporti n. 1, 2, 3.
29. Pagano M. The flotation of companies on the stock market: a coordination failure model European Economic Review 37 1993 1101-1125
30. Perotti E.C. Credible privatization American Economic Review 4 1995 847-1995
31. Perotti E. Van Oijen P. Privatization, political risk, and stock market development in emerging economies Journal of International Money and Finance 20 2001 43-69
32. Persson T. Tabellini G. 2001 Political Institutions and Policy Outcomes: What are the Stylized Facts. Università Bocconi. Mimeo.
33. Roland G. Transition and Economics 2000 MIT Press Cambridge, MA
34. World Bank Bureaucrats in Business: the Economics and Politics of Government Ownership 1995 Oxford University Press New York