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Institutional Environment And Partial Privatizations: Policy Implications For Local Governments

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  • A. MARRA
  • V. CARLEI

Abstract

type="main" xml:lang="de"> La littérature identifie les contraintes budgétaires sévères, la liquidité du marché boursier, les préférences politiques et les raisons légales comme facteurs déterminants principaux des privatisations totales et partielles. Néanmoins, l'environnement institutionnel entendu comme le fonctionnement d'un ensemble varié d'institutions et d'arrangements “de facto” est fondamental pour les décisions et les résultats des privatisations. L'article propose une approche multi-dimensionnelle et internationale pour éclairer les caractéristiques institutionnelles qui sont typiquement associées à différents choix de privatisation (ratio de ventes partielles, pourcentage de propriété privée) et aux résultats de celle-ci (proximité des prix de vente avec les niveaux du marché, intérêt public vs privé). L'objectif de cet article est de tirer des leçons des profils institutionnels nationaux et de proposer aux gouvernements locaux un cadre de base pour comprendre leurs arrangements institutionnels et prioriser des réformes instrumentales de privatisation. Les résultats suggèrent que les charges stratégiques et administratives constituent des déterminants importants des résultats des privatisations et que l'implication de l'Etat et l'approche stratégique de la privatisation sont habituellement associées à des privatisations partielles.

Suggested Citation

  • A. Marra & V. Carlei, 2014. "Institutional Environment And Partial Privatizations: Policy Implications For Local Governments," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(1), pages 31-52, March.
  • Handle: RePEc:bla:annpce:v:85:y:2014:i:1:p:31-52
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    2. Soukopová, Jana & Vaceková, Gabriela & Klimovský, Daniel, 2017. "Local waste management in the Czech Republic: Limits and merits of public-private partnership and contracting out," Utilities Policy, Elsevier, vol. 48(C), pages 201-209.
    3. D'Amore, Gabriella & Landriani, Loris & Lepore, Luigi, 2021. "Ownership and sustainability of Italian water utilities: The stakeholder role," Utilities Policy, Elsevier, vol. 71(C).
    4. Loch, Murialdo & Marcon, Rosilene & Pruner da Silva, André Leonardo & Xavier, Wlamir Gonçalves, 2018. "Government's impact on the financial performance of electric service providers as both regulator and shareholder," Utilities Policy, Elsevier, vol. 55(C), pages 142-150.
    5. Nataliya Gennadyevna Filatova, 2016. "Effective State Ownership Administration in the Context of the Privatization Process in Russia," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 170-187.

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