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Ownership and Theories of the Firm : Some Missing Links Revealed by Privatization in Transition Economies

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Author Info
Nivet, J.-F.
Abstract

This paper provides a precise and critical rereading of theories, developed before the 1990s, able to justify why privatization has been considered as a central component of transition in post-socialist countries, mainly the theory of property rights, managerial theories of the firm, the positive theory of agency. It highlights their difficulties to fully explain the inefficiency of state enterprises and the superiority of private corporations. It concludes on theoretical missing links, pertaining to the role of state, incompleteness of contracts, laws, uncertainty and entrepreneurship.

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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Papiers d'Economie Mathématique et Applications with number 2001.08.

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Length: 77 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:fth:pariem:2001.08

Contact details of provider:
Postal: France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France
Web page: http://cermsem.univ-paris1.fr/
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Related research
Keywords: PRIVATIZATION ; OWNERSHIP ; PROPERTY RIGHTS ; EXTERNALITIES;

Find related papers by JEL classification:
D2 - Microeconomics - - Production and Organizations
K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
P5 - Economic Systems - - Comparative Economic Systems

Cited by:
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  1. Fabian Gouret, 2003. "Méthodes de privatisation et évolution de l'output dans les économies en transition," Cahiers de la Maison des Sciences Economiques j04028, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]
Statistics
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This page was last updated on 2009-12-16.

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