Beyond Machiavellism : The Political Economy Of Privatisation
AbstractOver the last two decades, governments have most of the time granted -sometimes substantial- discounts when privatisating state assets. In average this discount has been higher under more right wing governments, and in more unequal countries. We present a simple political economy model of privatisation that can explain these main stylised facts of the recent privatisation experiences without having to rely on widespread ''machiavellian'' behaviour of governments. Moreover we investigate under which circumstances privatisation can proceed, and who will be the main beneficiaries. Finally we discuss the connection between privatisation and the efficiency of a country's tax system.
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Bibliographic InfoPaper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 2002-12.
Date of creation: 2002
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-AFR-2003-03-19 (Africa)
- NEP-ALL-2003-03-19 (All new papers)
- NEP-CDM-2003-03-19 (Collective Decision-Making)
- NEP-ENE-2003-03-19 (Energy Economics)
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