Portal de Periódicos da CAPES

PRIVATISATION AND INSTITUTIONS: A CROSS COUNTRY ANALYSIS

2000; RELX Group (Netherlands); Linguagem: Inglês

1556-5068

Bernardo Bortolotti, Domenico Siniscalco, Fondazione Eni, Enrico Mattei, Corso Magenta, Marcella Fantini,

Economic Policies and Impacts

Privatisation, i.e. the transfer of ownership and control of state-owned enterprises, is a worldwide phenomenon. Which political, economic and institutional factors are shaping this process? This paper addresses the issue presenting new evidence from a sample of 49 countries. From an empirical analysis of the period 1977-96, 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 institutions and developed capital markets.