Arbeitspapier
External Constraints Matter for Privatizations
We present an analysis of the share of public ownership in the product market in the OECD countries from 1974 to 2007. Despite much has been said on the broad topic of reforms and regulation, a sector-specific insight is missing. We replicate the analysis of Galasso (2014) by sector of activity accounting both for the dynamic bias of the lagged public ownership and the degree of state ownership at the beginning of the period. At the aggregate level both persistence and initial conditions play a major role, together with the European Single Market Program membership. Specifically, EMU members have a smaller share of public ownership in the electricity sector, while SMP members have less privatized telecommunications. Looking at the sub-sample of years when a change in the share of public ownership occurred, we find a composition effect of SMP: it has a negative impact on public ownership in telecommunications, but a positive one in the rail sector. Overall, we find that the countries in our sample tend to privatize mainly when decision taken at the supranational level (the EU for European countries) push towards this policy.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 5045
- Classification
-
Wirtschaft
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
National Government Expenditures and Related Policies: General
Regulation and Industrial Policy: General
Industry Studies: Utilities and Transportation: Government Policy
- Subject
-
product market regulation
privatization
OECD countries
dynamic regression
- Event
-
Geistige Schöpfung
- (who)
-
Petrarca, Ilaria
Ricciuti, Roberto
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Petrarca, Ilaria
- Ricciuti, Roberto
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2014
Other Objects (12)
How long do external capital constraints matter? A study based on Swiss data for the start-up cohort 1996 - 97
Do external technology acquisitions matter for innovative efficiency and productivity?
Geographic versus industry diversification: constraints matter
Monetary policy in the ERM: Internal targets or external constraints?
Do borrowing constraints matter for intergenerational educational mobility? Evidence from Japan
External financing constraints and firm's innovative activities during the financial crisis
Do Financial Constraints Matter for Foreign Market Entry? – A Firm-Level Examination
Do Financing Constraints Matter for Outward Foreign Direct Investment Decisions? Evidence from India
The catch-22 of external validity in the context of constraints to firm growth
External Constraints and Endogenous Growth: Why Didnt Some Countries Benefit From Capital Flows?
Investment in Education: Do Economic Volatility and Credit Constraints Matter?
Mortgage markets, collateral constraints, and monetary policy: Do institutional factors matter?
How long do external capital constraints matter? A study based on Swiss data for the start-up cohort 1996 - 97
Do external technology acquisitions matter for innovative efficiency and productivity?
Geographic versus industry diversification: constraints matter
Monetary policy in the ERM: Internal targets or external constraints?
Do borrowing constraints matter for intergenerational educational mobility? Evidence from Japan
External financing constraints and firm's innovative activities during the financial crisis
Do Financial Constraints Matter for Foreign Market Entry? – A Firm-Level Examination
Do Financing Constraints Matter for Outward Foreign Direct Investment Decisions? Evidence from India
The catch-22 of external validity in the context of constraints to firm growth
External Constraints and Endogenous Growth: Why Didnt Some Countries Benefit From Capital Flows?
Investment in Education: Do Economic Volatility and Credit Constraints Matter?
Mortgage markets, collateral constraints, and monetary policy: Do institutional factors matter?
How long do external capital constraints matter? A study based on Swiss data for the start-up cohort 1996 - 97
Do external technology acquisitions matter for innovative efficiency and productivity?
Geographic versus industry diversification: constraints matter
Monetary policy in the ERM: Internal targets or external constraints?
Do borrowing constraints matter for intergenerational educational mobility? Evidence from Japan
External financing constraints and firm's innovative activities during the financial crisis
Do Financial Constraints Matter for Foreign Market Entry? – A Firm-Level Examination
Do Financing Constraints Matter for Outward Foreign Direct Investment Decisions? Evidence from India
The catch-22 of external validity in the context of constraints to firm growth
External Constraints and Endogenous Growth: Why Didnt Some Countries Benefit From Capital Flows?
Investment in Education: Do Economic Volatility and Credit Constraints Matter?