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

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