G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
Privatization and Efficiency: From Principals and Agents to Political Economy
Alberto Cavaliere; Simona Scabrosetti
发表日期2006
出处Economy and Society
出版年2006
语种英语
摘要We survey the theoretical literature on privatization and efficiency by tracing its evolution from the applications of agency theory to recent contributions in the field of political economy. The first ones extend the theory of regulation with incomplete information to address privatization issues, comparing State Owned Entreprises (SOEs) with private regulated firms. The benefits of privatization may either derive from the constraints it places on malevolent agents or to the impossibility of commitment by a benevolent government because of incomplete contracts. Contributions dealing with political economy issues separate privatization from restructuring decisions. They either explore bargaining between managers and politicians or analyze the impact of privatization shaped by political preferences on efficiency. The theoretical results regarding the relation between privatization and efficiency do not lead to any definitive conclusion. Privatization may increase productive efficiency when restructuring takes place whereas its effects on allocative efficiency still remain uncertain.
特色分类L33,D82,P26
关键词Regulation,Imperfect Information,Political Preferences
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/privatization-and-efficiency-from-principals-and-agents-to-political-economy/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/117362
推荐引用方式
GB/T 7714
Alberto Cavaliere,Simona Scabrosetti. Privatization and Efficiency: From Principals and Agents to Political Economy. 2006.
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