Are there nationalization-privatization cycles? A theoretical survey and first empirical evidence
This paper deals with fluctuations over time in the extent of the state-owned firm sector? nationalization-privatization cycles (NPCs). Anecdotal observations of NPCs are supported threefold by systematic empirical evidence: first, for different regions and economic systems, second, for different time periods, and third, for different indicators. In explaining NPCs, the paper provides a history of research on the subject. At the end three hypotheses are distinguished: the ideological preference hypothesis, the political cycle hypothesis, and the efficiency hypothesis. The conclusion is that NPCs existed in the 20th century as a worldwide phenomenon and are worthy of being explained.
|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 431 8814-1
Fax: +49 431 85853
Web page: http://www.ifw-kiel.de
More information through EDIRC
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.:
- Umbeck, John, 1981. "Might Makes Rights: A Theory of the Formation and Initial Distribution of Property Rights," Economic Inquiry, Western Economic Association International, vol. 19(1), pages 38-59, January.
- David E. M. Sappington & Joseph E. Stiglitz, 1987.
"Privatization, Information and Incentives,"
NBER Working Papers
2196, National Bureau of Economic Research, Inc.
- Anderson, Terry L & Hill, Peter J, 1975. "The Evolution of Property Rights: A Study of the American West," Journal of Law and Economics, University of Chicago Press, vol. 18(1), pages 163-79, April.
- Kornai, Janos, 1992. "The Socialist System: The Political Economy of Communism," OUP Catalogue, Oxford University Press, number 9780198287766, March.
- John E. Tropman, 1982. "Shifting involvements: Private Interest and Public Action, by Albert O. Hirschman. Princeton, NJ: Princeton University Press, 1982, 136 pp. Price: $14.50 cloth, $5.95 paper," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 2(1), pages 146-146.
- Giersch, Herbert, 1984. "The Age of Schumpeter," American Economic Review, American Economic Association, vol. 74(2), pages 103-09, May.
- Rosa, Jean-Jacques, 1993. " Nationalization, Privatization, and the Allocation of Financial Property Rights," Public Choice, Springer, vol. 75(4), pages 317-37, April.
- Field, Barry C, 1989. "The Evolution of Property Rights," Kyklos, Wiley Blackwell, vol. 42(3), pages 319-45.
When requesting a correction, please mention this item's handle: RePEc:kie:kieliw:757. 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: (Dieter Stribny)
If references are entirely missing, you can add them using this form.