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Méthodes de Privatisation des Entreprises Publiques en Afrique Sub-Saharienne : une analyse théorique

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  • Mathurin Founanou
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    In this article, we analyze the process of privatization of state-owned enterprises in Sub-Saharan Africa. When the possible investors are not able to finance with their own funds the acquisition of public companies, the financing by the State-seller is a method relevant taking into account the objectives and constraints of the situation in Africa. We propose a particularly method of privatization via auctions, where potentials investors submits a bid with equity shares and debt shares. In this case, the government has two objectives : maximization of revenue and maximization of the efficiency. We show that the properties of this method of privatization rest mainly on the shares debt/equity. The revenue maximization is contraditory to efficiency objectives.

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    Article provided by Dalloz in its journal Revue d'économie politique.

    Volume (Year): 119 (2009)
    Issue (Month): 6 ()
    Pages: 921-943

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    Handle: RePEc:cai:repdal:redp_196_0921
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