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The different extent of privatisation proceeds in EU countries: A preliminary explanation using a public choice approach

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Author Info
Ansgar Belke () (University of Hohenheim, Department of Economics, Stuttgart, Germany)
Frank Baumgärtner () (University of Hohenheim, Department of Economics, Stuttgart, Germany)
Friedrich G. Schneider () (Department of Economics, Johannes Kepler University Linz, Austria)
Ralph Setzer () (Deutsche Bundesbank, Department of Economics, Frankfurt, Germany)

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Abstract

This paper empirically investigates the differences in the motives of raising privatisation proceeds for a panel of EU countries from 1990 to 2000. More specifically, we test whether privatisations can be mainly interpreted (a) as ingredients of a larger reform package of economic liberalisation in formerly overregulated economies, (b) as a reaction to an increasing macroeconomic problem pressure and (c) as a means to foster growth and increase tax income and relax the fiscal stance with an eye on the demands by integration of economic and financial markets. Whereas we are able to corroborate claim (a) only partly, we gain consistent evidence in favour of claims (b) and (c).

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Paper provided by Department of Economics, Johannes Kepler University Linz, Austria in its series Economics working papers with number 2006-06.

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Date of creation: Jul 2006
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Handle: RePEc:jku:econwp:2006_06

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Related research
Keywords: European Union; panel analysis; partisan theory; privatisation proceeds; state-owned enterprises;

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Find related papers by JEL classification:
H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out

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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. Bruno Biais & Enrico Perotti, 2002. "Machiavellian Privatization," American Economic Review, American Economic Association, vol. 92(1), pages 240-258, March. [Downloadable!]
  2. Perotti, Enrico C, 1995. "Credible Privatization," American Economic Review, American Economic Association, vol. 85(4), pages 847-59, September. [Downloadable!] (restricted)
  3. Stegarescu, Dan, 2004. "Public Sector Decentralization : Measurement Concepts and Recent International Trends," ZEW Discussion Papers 04-74, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  4. Mosley, Layna, 2000. "Room to Move: International Financial Markets and National Welfare States," International Organization, Cambridge University Press, vol. 54(04), pages 737-773, November. [Downloadable!]
  5. Friedrich Schneider & Ansgar Belke, 2004. "Privatization in Austria: Some theoretical reasons and performance measures," Economics working papers 2004-04, Department of Economics, Johannes Kepler University Linz, Austria. [Downloadable!]
  6. Jones, Steven L. & Megginson, William L. & Nash, Robert C. & Netter, Jeffry M., 1999. "Share issue privatizations as financial means to political and economic ends," Journal of Financial Economics, Elsevier, vol. 53(2), pages 217-253, August. [Downloadable!] (restricted)
  7. 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)
  8. Dieter Bös & Friedrich Schneider, 1996. "Private-public partnership: Gemeinschaftsunternehmen zwischen Privaten und der öffentlichen Hand," Homo Oeconomicus, Institute of SocioEconomics, vol. 13, pages 127-166.
  9. Bortolotti, Bernardo & Fantini, Marcella & Siniscalco, Domenico, 2001. "Privatisation Around the World: New Evidence from Panel Data," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  10. Mosley, Layna, 2000. "Room to Move: International Financial Markets and National Welfare States," International Organization, MIT Press, vol. 54(4), pages 737-73, Autumn.
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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. Bernardo Bortolotti & Paolo Pinotti, 2008. "Delayed privatization," Public Choice, Springer, vol. 136(3), pages 331-351, September. [Downloadable!] (restricted)
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