The Life Cycle of Government Ownership
dc.contributor.author | Che, Jiahua | en_US |
dc.date.accessioned | 2006-08-01T16:21:52Z | |
dc.date.available | 2006-08-01T16:21:52Z | |
dc.date.issued | 2003-10-01 | en_US |
dc.identifier.other | RePEc:wdi:papers:2003-627 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/40013 | en_US |
dc.description.abstract | Government ownership may dominate private ownership under government failure. Such dom- inance disappears as product markets grow mature, giving rise to the need for privatization. Buyers' limited wealth imposes a constraint on how and when privatization takes place. In particular, ¯rms may be underpriced during privatization, and privatization may take place at a sub-optimal timing which results in ¯rm performances to deteriorate in the short run, and to improve only in the long run. Partial privatization may alleviate the constraint in some cases but exacerbates the e±ciency loss in others. When the government is lesser an interventionist or when the product market grows mature very rapidly, privatization is likely to take place at a sub-optimal timing. The analysis is applied to the dynamics of the Chinese non-state sector. | en_US |
dc.format.extent | 118977 bytes | |
dc.format.extent | 3151 bytes | |
dc.format.extent | 701511 bytes | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en_US |
dc.relation.ispartofseries | 627 | en_US |
dc.subject | Government Rent Seeking, Government Ownership, Privatization | en_US |
dc.subject.other | P30, L20, K40 | en_US |
dc.title | The Life Cycle of Government Ownership | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/40013/3/wp627.pdf | en_US |
dc.owningcollname | William Davidson Institute (WDI) - Working Papers |
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