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Liberalization-Privatization Paths: Policies and Politics

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  • Filippo Belloc

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  • Antonio Nicita

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Abstract

We empirically investigate the political determinants of deregulation policies in six network industries of 30 OECD countries over 1975-2007. We unbundle privatization and liberalization and propose an econometric study in which we allow for the joint adoption of the two policies by governments. We find, contrary to conventional wisdom, that right-wing executives tend to privatize more and to liberalize less, relative to left-wing governments. Thus, we show that ideological cleavages affect the ‘structure’ of deregulation, i.e. the way in which liberalization and privatization are combined. This result may shed new lights on the analysis of the political determinants of market-oriented policy, and suggest new issues for further theoretical and empirical research

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Paper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 609.

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Date of creation: Mar 2011
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Handle: RePEc:usi:wpaper:609

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Keywords: Liberalization; Privatization; Network Industries; Partisanship.;

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  1. Bernardo Bortolotti & Paolo Pinotti, 2008. "Delayed privatization," Public Choice, Springer, vol. 136(3), pages 331-351, September.
  2. Christian Bj�rnskov & Niklas Potrafke, 2012. "Political Ideology and Economic Freedom Across Canadian Provinces," Eastern Economic Journal, Palgrave Macmillan, vol. 38(2), pages 143-166.
  3. Paul Conway & Giuseppe Nicoletti, 2006. "Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurement and Highlights," OECD Economics Department Working Papers 530, OECD Publishing.
  4. Mehmet Ulubasoglu & K. Peren Arin, 2005. "Leviathan Resists: The Endogenous Relationship Between Privatisation and Firm Performance," Economics Series 2005_17, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  5. Giovanni DE FRAJA, 1994. "Chicken or Egg. Which Should Come First, Privatisation or Liberalisation?," Annales d'Economie et de Statistique, ENSAE, issue 33, pages 133-156.
  6. Mark Armstrong & David E.M. Sappington, 2006. "Regulation, Competition and Liberalization," Journal of Economic Literature, American Economic Association, vol. 44(2), pages 325-366, June.
  7. Cesar Martinelli & Mariano Tommasi, 1993. "Sequencing of Economic Reforms in the Presence of Political Constraints," UCLA Economics Working Papers 701, UCLA Department of Economics.
  8. Cukierman, A., 1997. "When Does it Take A Nixon To Go To China?," Discussion Paper 1997-91, Tilburg University, Center for Economic Research.
  9. Harrington, Joseph E, Jr, 1993. "Economic Policy, Economic Performance, and Elections," American Economic Review, American Economic Association, vol. 83(1), pages 27-42, March.
  10. Potrafke, Niklas, 2010. "Does government ideology influence deregulation of product markets? Empirical evidence from OECD countries," Munich Reprints in Economics 19284, University of Munich, Department of Economics.
  11. Jens Høj & Vincenzo Galasso & Giuseppe Nicoletti & Thai-Thanh Dang, 2006. "The Political Economy of Structural Reform: Empirical Evidence from OECD Countries," OECD Economics Department Working Papers 501, OECD Publishing.
  12. Fink, Carsten & Mattoo, Aaditya & Rathindran, Randeep, 2003. "An assessment of telecommunications reform in developing countries," Information Economics and Policy, Elsevier, vol. 15(4), pages 443-466, December.
  13. Hans Pitlik, 2007. "A race to liberalization? Diffusion of economic policy reform among OECD-economies," Public Choice, Springer, vol. 132(1), pages 159-178, July.
  14. Tomaso Duso, 2002. "On the Politics of the Regulatory Reform: Econometric Evidence from the OECD Countries," CIG Working Papers FS IV 02-07, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
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Cited by:
  1. Filippo Belloc & Antonio Nicita & Pier Luigi Parcu, 2011. "Deregulating Telecommunications in Europe: Timing, Path-Dependency, and Institutional Complementarities," RSCAS Working Papers 2011/47, European University Institute.

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