Arbeitspapier
Privatization, international asset trade and financial markets
This paper evaluates the impact of privatization on the development of capital markets in a two-country general equilibrium model. We draw particular attention to two divestment techniques, share issue privatizations (in developed market systems) and voucher privatizations (in transition economies). It is shown how these two privatization methods can have an impact, by diversification effects, on supplies of private assets, demands for assets, market capitalizations and international asset allocation strategies. We show that even a non-marketed privatization (free distribution of public assets to private individuals) has market-effects, by altering portfolio choices.
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 114.2002
- Klassifikation
-
Wirtschaft
Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out
- Thema
-
Financial integration
international risk-sharing
share issue privatization
stock market development
voucher privatization
Privatisierung
Börsengang
Finanzmarkt
Voucher-Privatisierung
Allgemeines Gleichgewicht
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Girmens, Guillaume
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Girmens, Guillaume
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 2002