Are there nationalization-privatization cycles? A theoretical survey and first empirical evidence
AbstractThis paper deals with fluctuations over time in the extent of the state-owned firm sector? nationalization-privatization cycles (NPCs). Anecdotal observations of NPCs are supported threefold by systematic empirical evidence: first, for different regions and economic systems, second, for different time periods, and third, for different indicators. In explaining NPCs, the paper provides a history of research on the subject. At the end three hypotheses are distinguished: the ideological preference hypothesis, the political cycle hypothesis, and the efficiency hypothesis. The conclusion is that NPCs existed in the 20th century as a worldwide phenomenon and are worthy of being explained.
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 757.
Date of creation: 1996
Date of revision:
Find related papers by JEL classification:
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
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