Le financement public du secteur de la défense, une source d'inefficacité
AbstractContinental European countries used to finance defence firms with public money. In the last few years, many governments aimed at implementing a hands-off policy towards the defence sector, which implies a gradual transition from public to private funding. This paper argues that the absence of long term relationships between defence firms and private investors may block this change.
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Bibliographic InfoPaper provided by ESSEC Research Center, ESSEC Business School in its series ESSEC Working Papers with number DR 05008.
Length: 22 pages
Date of creation: Sep 2005
Date of revision:
Defense sector; Private funds; Defense industrial policy; Asymmetric information;
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
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