Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155186
Authors: 
Bosi, Stefano
Girmans, Guillaume
Guillard, Michel
Year of Publication: 
2001
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 23.2001
Abstract: 
In this paper we consider various privatisation mechanisms in a general equilibrium model. We show that privatisation has no real effects, if the public sector is efficient and lump-sum taxes are implemented. The free distribution of public assets is financially neutral, whereas the sale of public assets is not. If taxes are not available, there is a privatisation mix allowing the economy to reach the first best. The maintain of some public property rights is justified, even if the public efficiency is removed.
Subjects: 
Financial market development
privatisation
public good provision
public sector inefficiency
risk diversification
JEL: 
E44
G1
H4
L33
Document Type: 
Working Paper

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