Advanced Search
MyIDEAS: Login

Interesse privato e /scarsa produzione di beni pubblici: i Contratti saras S.p.a

Contents:

Author Info

  • Francesco Silvestri
Registered author(s):

    Abstract

    Private Interest and (Inadequate) Production of Public Goods: the Contratto di Programma involving Saras co. - Objectives This work deals with the CdP stipulated by refining oil company Saras between 1995 al 2004, the only case that see the same industrial partner being granted by three consecutive Contracts. The research was aimed to understand some main topics: in which measure and how public incentives affected the company’s choice with respect to size, place and timing of investments; which items affected more final decisions and results, and what kind of long-run effects public supported investments had on local development from a socio-economic perspective. Methods and Results The study has been carried on through documental investigation (Industry Ministry Archive), literature analysis, statistical elaborations, and direct interviews (both vis-à-vis and on the telephone) with managers of Saras and of other involved companies, local unionists, university professors, and experts. Statistical elaborations has been based on official Italian Census and Finance Ministry (Income Department) data, and from Sardinia Economic Observatory data. Finally, with the help of fiscal experts we checked up official balance sheets of Saras co. and of controlled firms. The main result of the analysis is that we can really see a push for local social-economic welfare in last years, but we can hardly accredit it to CdP working. Conclusions In all three contract, industrial plans presented by Saras were composed of a main part aiming at financing capital intensive activities of renewal/revamp/enlargement of plant infrastructures (with 80% of free public funds), and a second independent part (with a lower quota of public financing, but incomparably less costly) addressed to develop research projects of almost no interest for the proponent, to attempt a diversification in new labour intensive activities with few relationships with Saras’ core business, and with a small probability to endure. In practice, Saras was heavily compensated on its core business to sell requested public goods produced in parallel sectors (namely employment), where the firm had no skills at all. In the wellknown tradition of Contract Theory, the public part of the transaction suffered from adverse selection, being captured by the private supplier, but making no effort to avoid this unsatisfactory (on effectiveness basis) result.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=35070&Tipo=ArticoloPDF
    Download Restriction: Single articles can be downloaded buying download credits, for info: http://www.francoangeli.it/riviste/inglese_download_credit.asp

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by FrancoAngeli Editore in its journal RIVISTA DI ECONOMIA E STATISTICA DEL TERRITORIO.

    Volume (Year): 2008/3 (2008)
    Issue (Month): 3 ()
    Pages: 147-163

    as in new window
    Handle: RePEc:fan:restre:v:html10.3280/rest2008-003008

    Contact details of provider:
    Web page: http://www.francoangeli.it/riviste/sommario.asp?IDRivista=142

    Order Information:
    Email:
    Web: http://www.francoangeli.it/riviste/Elenco_Prodotti.aspx?startCode=DC

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:fan:restre:v:html10.3280/rest2008-003008. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angelo Ventriglia).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.