Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/155240 
Year of Publication: 
2001
Series/Report no.: 
Nota di Lavoro No. 77.2001
Publisher: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Abstract: 
This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and is affected by the governing political majority and public sector budget constraints. But the extent of privatisation in terms of revenues and stakes sold appears more limited in civil law countries, where shareholders are poorly protected, banks powerful, and capital markets less developed.
Subjects: 
Privatisation
public finance
political economy
law and finance
capital markets
JEL: 
L33
D72
G15
H6
K22
Document Type: 
Working Paper

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