Privatization and labor policies
AbstractUsing new data we analyze retrenchment programs before privatization, their effect on prices paid and re-hiring policies pursued by the new private owners. We find evidence in support of skimming and adverse selection. We find that some labor retrenchment policies have a negative impact on net privatization prices, even after taking sample selection bias and endogeneity into account. Some downsizing policies may lead to a higher frequency of post-privatization re-hiring. Skill-biased retrenchment programs are the only ones marginally associated with higher privatization prices and minimal re-hiring rates after privatization. But the political and economic costs of such programs may make them impractical.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Public Economics.
Volume (Year): 95 (2011)
Issue (Month): 9 ()
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Web page: http://www.elsevier.com/locate/inca/505578
Privatization; Prices; Downsizing; Labor; Adverse selection; Re-hiring;
Other versions of this item:
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- H10 - Public Economics - - Structure and Scope of Government - - - General
- J45 - Labor and Demographic Economics - - Particular Labor Markets - - - Public Sector Labor Markets
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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