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Streamlining and Privatization Prices in the Telecommunications Industry

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Author Info
Alberto Chong ()
Virgilio Galdo

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Abstract

This paper fills a void in the issue of determinants of privatization prices by concentrating in one industry across many countries. This has not been done before, as the literature has only focused on (i) many industries in one country, (ii) a single industry in one country, and (iii) many industries in many countries. We complement a recently released database with newly collected data, and we are able to cover 84 telecommunications privatizations, which account for nearly 80 percent of the sector in terms of value. Our findings are consistent with the little existing work on privatization prices, as our best policy prescription is primarily to concentrate on the transparency and cleanliness of the privatization process, as sale methods do matter. We show that government administration of labor downsizing may result in adverse selection, as the best workers are the first to leave when given the opportunity.

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Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 4319.

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Date of creation: Feb 2003
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Handle: RePEc:idb:wpaper:4319

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Wallsten, Scott, 2002. "Does sequencing matter? regulation and privatization in telecommunications reforms," Policy Research Working Paper Series 2817, The World Bank. [Downloadable!]
  2. Roland, Gérard, 1994. "On the Speed and Sequencing of Privatization and Restructuring," CEPR Discussion Papers 942, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  3. Kahn, Charles M, 1985. "Optimal Severance Pay with Incomplete Information," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 435-51, June. [Downloadable!] (restricted)
  4. Rama, Martin, 1999. "Public Sector Downsizing: An Introduction," World Bank Economic Review, Oxford University Press, vol. 13(1), pages 1-22, January.
  5. Jeon, Doh-Shin & Laffont, Jean-Jacques, 1999. "The Efficient Mechanism for Downsizing the Public Sector," World Bank Economic Review, Oxford University Press, vol. 13(1), pages 67-88, January.
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  6. Freeman, Richard B, 1986. "Unionism Comes to the Public Sector," Journal of Economic Literature, American Economic Association, vol. 24(1), pages 41-86, March. [Downloadable!] (restricted)
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  7. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December. [Downloadable!] (restricted)
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  8. Vickers, John & Yarrow, George, 1991. "Economic Perspectives on Privatization," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 111-32, Spring. [Downloadable!] (restricted)
  9. William L. Megginson & Jeffry M. Netter, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alberto Chong & Alejandro Riaño, 2006. "El entorno político y los precios de las privatizaciones," RES Working Papers 4440, Inter-American Development Bank, Research Department. [Downloadable!]
  2. Alberto Chong & Alejandro Riaño, 2006. "Political Environment and Privatization Prices," RES Working Papers 4439, Inter-American Development Bank, Research Department. [Downloadable!]
  3. Alberto Chong & Florencio Lopez-de-Silanes, 2003. "The Truth About Privatization in Latin America," RES Working Papers 3180, Inter-American Development Bank, Research Department. [Downloadable!]
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