How does government ownership affect firm performance? A simple model of privatization in transition economies
We present a game-theoretical model of privatization in transition economies. We consider the costs and benefits of government ownership and derive the net effect of government ownership on firm performance. Model predictions are consistent with empirical evidence in the literature.
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- Roman Frydman & Cheryl Gray & Marek Hessel & Andrzej Rapaczynski, 1999. "When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in the Transition Economies," The Quarterly Journal of Economics, Oxford University Press, vol. 114(4), pages 1153-1191.
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- Nandini Gupta, 2005. "Partial Privatization and Firm Performance," Journal of Finance, American Finance Association, vol. 60(2), pages 987-1015, 04.
- Bai, Chong-En & Li, David D. & Tao, Zhigang & Wang, Yijiang, 2000. "A Multitask Theory of State Enterprise Reform," Journal of Comparative Economics, Elsevier, vol. 28(4), pages 716-738, December.
- Jefferson, Gary H, 1998. "China's State Enterprises: Public Goods, Externalities, and Coase," American Economic Review, American Economic Association, vol. 88(2), pages 428-432, May.
- Dong, Xiao-Yuan & Putterman, Louis, 2003. "Soft budget constraints, social burdens, and labor redundancy in China's state industry," Journal of Comparative Economics, Elsevier, vol. 31(1), pages 110-133, March.
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