The retreat of the state from entrepreneurial activities: A convergence analysis for OECD countries, 1980–2007
In this paper, we measure the extent and dissemination of the retreat of the state from entrepreneurial activities in 20 OECD countries during the 1980–2007 period using a three-dimensional concept and a new dataset, the REST database. We consider privatization, deregulation in network-based services, and the cutback of subsidies. Though the empirical analysis confirms a clear trend towards diminishing state influence in all three dimensions, the analysis of both sigma and conditional beta convergence indicates convergence only for privatization (measured by public employment) and for subsidization, indicating that OECD countries have become similar and have converged to a common equilibrium with respect to these dimensions.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Morck, Randall & Deniz Yavuz, M. & Yeung, Bernard, 2011.
"Banking system control, capital allocation, and economy performance,"
Journal of Financial Economics,
Elsevier, vol. 100(2), pages 264-283, May.
- Randall Morck & M. Deniz Yavuz & Bernard Yeung, 2009. "Banking System Control, Capital Allocation, and Economy Performance," NBER Working Papers 15575, National Bureau of Economic Research, Inc.
- Burgoon, Brian & Demetriades, Panicos & Underhill, Geoffrey R.D., 2012.
"Sources and legitimacy of financial liberalization,"
European Journal of Political Economy,
Elsevier, vol. 28(2), pages 147-161.
- Brian Burgoon & Panicos O. Demetriades & Geoffrey R.D. Underhill, 2011. "Sources and Legitimacy of Financial Liberalization," Discussion Papers in Economics 11/45, Department of Economics, University of Leicester.
- Saul Estrin & Jan Hanousek & Evzen Kocenda & Jan Svejnar, 2009.
"The Effects of Privatization and Ownership in Transition Economies,"
Journal of Economic Literature,
American Economic Association, vol. 47(3), pages 699-728, September.
- Estrin, Saul & Hanousek, Jan & Kocenda, Evzen & Svejnar, Jan, 2009. "Effects of privatization and ownership in transition economies," Policy Research Working Paper Series 4811, The World Bank.
- Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
- Laffont, Jean-Jacques & Tirole, Jean, 1991.
"Privatization and Incentives,"
Journal of Law, Economics and Organization,
Oxford University Press, vol. 7(0), pages 84-105, Special I.
- Hendry, David F., 1995. "Dynamic Econometrics," OUP Catalogue, Oxford University Press, number 9780198283164, July.
- Maxim Boycko & Andrei Shlelfer & Robert Vishny, 1993.
University of Chicago - George G. Stigler Center for Study of Economy and State
85, Chicago - Center for Study of Economy and State.
- Elinder, Mikael & Jordahl, Henrik, 2013.
"Political preferences and public sector outsourcing,"
European Journal of Political Economy,
Elsevier, vol. 30(C), pages 43-57.
- Elinder, Mikael & Jordahl, Henrik, 2011. "Political Preferences and Public Sector Outsourcing," Working Paper Series 877, Research Institute of Industrial Economics.
- Elinder, Mikael & Jordahl, Henrik, 2012. "Political Preferences and Public Sector Outsourcing," IZA Discussion Papers 6632, Institute for the Study of Labor (IZA).
- Meseguer, Covadonga, 2006. "Learning and economic policy choices," European Journal of Political Economy, Elsevier, vol. 22(1), pages 156-178, March.
- William L. Megginson & Robert C. Nash & Jeffry M. Netter & Annette B. Poulsen, 2004. "The Choice of Private Versus Public Capital Markets: Evidence from Privatizations," Journal of Finance, American Finance Association, vol. 59(6), pages 2835-2870, December.
- David E. M. Sappington & Joseph E. Stiglitz, 1987.
"Privatization, Information and Incentives,"
NBER Working Papers
2196, National Bureau of Economic Research, Inc.
- Massimo Florio & Mara Grasseni, 2003.
"The missing shock: the macroeconomic impact of British privatisation,"
Departmental Working Papers
2003-21, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Emanuele Bacchiocchi & Massimo Florio & Mara Grasseni, 2005. "The missing shock: the macroeconomic impact of British Privatizations," Applied Economics, Taylor & Francis Journals, vol. 37(14), pages 1585-1596.
- Massimo Florio & Mara Grasseni, 2004. "The Missing Shock: The Macroeconomic Impact of British Privatisation," Working Papers 2004.104, Fondazione Eni Enrico Mattei.
- Bernardo Bortolotti & Marcella Fantini & Carlo Scarpa, 2002. "Why Do Governments Privatize Abroad?," International Review of Finance, International Review of Finance Ltd., vol. 3(2), pages 131-161.
- Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119, July.
- Sunita Kikeri, 2004. "An Assessment of Privatization," World Bank Research Observer, World Bank Group, vol. 19(1), pages 87-118.
- Newbery, David M., 1997.
"Privatisation and liberalisation of network utilities,"
European Economic Review,
Elsevier, vol. 41(3-5), pages 357-383, April.
- Newbery, D., 1996. "Privatisation and Liberalisation of Network Utilities," Cambridge Working Papers in Economics 9620, Faculty of Economics, University of Cambridge.
- Davidson, James E H, et al, 1978. "Econometric Modelling of the Aggregate Time-Series Relationship between Consumers' Expenditure and Income in the United Kingdom," Economic Journal, Royal Economic Society, vol. 88(352), pages 661-92, December.
- Etling, Andreas & Mause, Karsten & Obinger, Herbert & Schmitt, Carina & Schreeb, Katharina, 2009. "The retreat of the state from entrepreneurial activities: an extended survey," TranState Working Papers 107, University of Bremen, Collaborative Research Center 597: Transformations of the State.
- Mark Armstrong & David Sappington, 2005.
"Regulation, Competition and Liberalization,"
0505011, EconWPA, revised 07 Oct 2005.
- Shapiro, C. & Willing, D.R., 1990. "Economic Rationales For The Scope Of Privatization," Papers 41, Princeton, Woodrow Wilson School - Discussion Paper.
- Bernardo Bortolotti & Mara Faccio, 2009. "Government Control of Privatized Firms," Review of Financial Studies, Society for Financial Studies, vol. 22(8), pages 2907-2939, August.
- Cerny, Philip G., 1995. "Globalization and the changing logic of collective action," International Organization, Cambridge University Press, vol. 49(04), pages 595-625, September.
- Emma Aisbett & Carol McAusland, 2011.
"Firm Characteristics and Influence on Government Rule-Making: theory and evidence,"
CEPR Discussion Papers
649, Centre for Economic Policy Research, Research School of Economics, Australian National University.
- Aisbett, Emma & McAusland, Carol, 2013. "Firm characteristics and influence on government rule-making: Theory and evidence," European Journal of Political Economy, Elsevier, vol. 29(C), pages 214-235.
- Tanzi, Vito & Schuknecht, Ludger, 1997. "Reforming government: An overview of recent experience," European Journal of Political Economy, Elsevier, vol. 13(3), pages 395-417, September.
- Perotti, Enrico C, 1995. "Credible Privatization," American Economic Review, American Economic Association, vol. 85(4), pages 847-59, September.
- Turnovec, Frantisek, 1999. "Privatization, ownership structure and transparency: how to measure the true involvement of the state," European Journal of Political Economy, Elsevier, vol. 15(4), pages 605-618, November.
- Nancy Brune & Geoffrey Garrett & Bruce Kogut, 2004. "The International Monetary Fund and the Global Spread of Privatization," IMF Staff Papers, Palgrave Macmillan, vol. 51(2), pages 1.
- Emanuele Bacchiocchi & Massimo Florio, 2008. "Privatisation and aggregate output: testing for macroeconomic transmission channels," Empirica, Springer, vol. 35(5), pages 525-545, December.
- Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W, 1996. "A Theory of Privatisation," Economic Journal, Royal Economic Society, vol. 106(435), pages 309-19, March.
- Bruno Biais & Enrico Perotti, 2002. "Machiavellian Privatization," American Economic Review, American Economic Association, vol. 92(1), pages 240-258, March.
- Dinc, I. Serdar, 2005. "Politicians and banks: Political influences on government-owned banks in emerging markets," Journal of Financial Economics, Elsevier, vol. 77(2), pages 453-479, August.
- Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, June.
- Bortolotti, Bernardo & Fantini, Marcella & Siniscalco, Domenico, 2001. "Privatisation: politics, institutions, and financial markets," Emerging Markets Review, Elsevier, vol. 2(2), pages 109-137, June.
- Wolf, Christian, 2009. "Does ownership matter? The performance and efficiency of State Oil vs. Private Oil (1987-2006)," Energy Policy, Elsevier, vol. 37(7), pages 2642-2652, July.
- Ansgar Belke & Frank Baumgärtner & Friedrich Schneider & Ralph Setzer, 2007. "The Different Extent of Privatization Proceeds in OECD Countries: A Preliminary Explanation Using a Public-Choice Approach," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 63(2), pages 211-243, June.
- Bjorvatn, Kjetil & Soreide, Tina, 2005. "Corruption and privatization," European Journal of Political Economy, Elsevier, vol. 21(4), pages 903-914, December.
- Bortolotti, Bernardo & Fantini, Marcella & Siniscalco, Domenico, 2004. "Privatisation around the world: evidence from panel data," Journal of Public Economics, Elsevier, vol. 88(1-2), pages 305-332, January.
When requesting a correction, please mention this item's handle: RePEc:eee:poleco:v:32:y:2013:i:c:p:95-112. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.