Long-Run Effects of Foreign Penetration on Privatization Policies
This paper investigates the long-run effect of foreign penetration in product markets on privatization policies. We find that the optimal degree of privatization is increasing in foreign penetration. This result is in sharp contrast to the existing short-run result that it is decreasing. Our result suggests that from a long-run viewpoint, the country with a more open market should promote the privatization of public enterprises, even though this reduces welfare in the short run.
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Volume (Year): 168 (2012)
Issue (Month): 3 (September)
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References listed on IDEAS
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- A. Brandão & S. Castro, 2007. "State-owned enterprises as indirect instruments of entry regulation," Journal of Economics, Springer, vol. 92(3), pages 263-274, December.
- Susumu Cato, 2011. "Privatization Policy And Cost‐Reducing Investment By The Private Sector," Manchester School, University of Manchester, vol. 79(6), pages 1157-1178, December.
- repec:adr:anecst:y:1994:i:33:p:06 is not listed on IDEAS
- Giacomo Corneo & Oliver Jeanne, 1994. "Oligopole mixte dans un marché commun," Annals of Economics and Statistics, GENES, issue 33, pages 73-90.
- Fershtman, Chaim, 1985. "Managerial incentives as a strategic variable in duopolistic environment," International Journal of Industrial Organization, Elsevier, vol. 3(2), pages 245-253, June.
- Fjell, Kenneth & Heywood, John S, 2002. "Public Stackelberg Leadership in a Mixed Oligopoly with Foreign Firms," Australian Economic Papers, Wiley Blackwell, vol. 41(3), pages 267-81, September.
- repec:adr:anecst:y:1994:i:33 is not listed on IDEAS
- Kenji Fujiwara, 2007. "Partial Privatization in a Differentiated Mixed Oligopoly," Journal of Economics, Springer, vol. 92(1), pages 51-65, September.
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