IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/64168.html
   My bibliography  Save this paper

Приватизация И Рациональная Структура Собственности. Часть 2. Рационализация Структуры Собственности
[Privatization and the rational ownership structure. Part 2: rationalization of the ownership structure]

Author

Listed:
  • Polterovich (Полтерович), Victor (Виктор)

Abstract

In the first part of the paper, it was shown that decisions on privatization have to be considered in the context of more general problem of finding a rational property structure in an economy. The second part demonstrates that public enterprises fulfill a number of special functions which are particularly important for developing resource abundant countries. Particularly, they can play a role of the modernization agents which initiate large scale projects in the frameworks of public-private partnerships. A concept of stationary property structure is introduced. A set of stationary structures exists under given conditions; the ”volume” of the set depends on transformation costs of privatization. This explains path-dependence of the observed structures. Some principles of the governance of the property structure are suggested which are supported by the analysis of the Norway experience. The causes of the cyclicity of the privatization policies are discussed, and the reasons of the coming mass privatization in Russia are analyzed. Recommendations are formulated to increase the efficiency of the Russian state sector governance.

Suggested Citation

  • Polterovich (Полтерович), Victor (Виктор), 2013. "Приватизация И Рациональная Структура Собственности. Часть 2. Рационализация Структуры Собственности
    [Privatization and the rational ownership structure. Part 2: rationalization of the ownership st
    ," MPRA Paper 64168, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:64168
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/64168/1/MPRA_paper_64168.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Polterovich, Victor, 1995. "Towards the Theory of Privatization," MPRA Paper 20151, University Library of Munich, Germany.
    2. Bruno Biais & Enrico Perotti, 2002. "Machiavellian Privatization," American Economic Review, American Economic Association, vol. 92(1), pages 240-258, March.
    3. repec:cup:macdyn:v:22:y:2018:i:02:p:331-361_00 is not listed on IDEAS
    4. Chang, Roberto & Hevia, Constantino & Loayza, Norman, 2018. "Privatization And Nationalization Cycles," Macroeconomic Dynamics, Cambridge University Press, vol. 22(02), pages 331-361, March.
    5. Bernardo Bortolotti & Paolo Pinotti, 2003. "The Political Economy of Privatization," Working Papers 2003.45, Fondazione Eni Enrico Mattei.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    state sector governance; industrial policy; transformation cost; stationary ownership structure; Norway experience ; NP- cycles; mass privatization.;

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H82 - Public Economics - - Miscellaneous Issues - - - Governmental Property
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • P5 - Economic Systems - - Comparative Economic Systems

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:64168. 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: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.